WASHINGTON, D.C. (Circa)--We already know from previous studies that young adults in the U.S. are trading in their apartments for basements at home. But, it turns out, it's happening at a rapid rate.
According to a new report by Pew Research Center, nearly one-third of Americans from the ages of 25 to 29 live in multi-generational households in 2016. When the whole U.S. population is taken into account, there are about 64 million people who are living with multiple generations under one roof. For some comparison, the number of Americans living in multi-generational homes was half that, amounting to about 32.2 million people.
Historically, those over 85 were the largest demographic to make up multi-generational living, though there were increases among other age groups in times of economic hardship, such as the Great Recession. However, the number of young adults living in multi-generational households continues to rise, despite improvements in the U.S. economy.
"The number and share of Americans living in these households increased sharply during and immediately after the Great Recession of 2007-2009. Since then, growth has slowed a little but has remained much more rapid than the growth before the recession."
Increased racial and ethnic diversity in the U.S. population helps account for some of the changes in lifestyle, according to the report. After all, the Asian and Hispanic populations are growing at faster rate than their white peers. At 29 percent, Asians accounted for the most likely group to live in multi-gen homes. Not far behind were African Americans and Hispanics.
Overall, the most common type of multi-generational household consisted of two adult generations, such as parents and their adult children.
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