10 May Almost 20 percent of D-FW millennials are still living at home
Homebuilders and real estate agents are targeting millennials as their top source of home sales. But first they’ve got to get them to leave home. Almost two out of 10 Dallas-Fort Worth millennials aged 24 to 36 still live with mom and dad, according to a new study by Zillow. The percentage of Dallas-area millennials living at home is still double what it was before the Great Recession. And it’s even higher nationally, with almost a quarter of millennials still living with mom and dad. Even among recent U.S. college grads, 28 percent live with family. High apartment rents and soaring home costs are to blame, Zillow researchers say.
“As rents outpaced incomes over the past decade, young people turned to their families in large numbers to ease the housing cost crunch,” Zillow senior economist Aaron Terrazas says in a new report. “But even as the labor market has improved, the family safety net has yet to unwind.
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