The reason so many South Florida millennials still live at home

money-house-nt

South Florida has more millennials living with their parents than any other major metro area, Zillow said Thursday.

Fully 33.4 percent of millennials lived at home in 2014, Zillow says. The trend can’t be blamed entirely on a dearth of jobs (in job-deprived Detroit, only 26 percent of Gen Y still lived with their parents) or a lack of housing affordability (in utterly unaffordable San Francisco, just 21 percent of millennials were crashing at home).

Instead, Zillow said, staying home seems to be a cultural thing. South Florida — which Zillow defines as Miami-Dade, Broward and Palm Beach counties — has a huge Hispanic population, and fully 46 percent of the South Florida millennials living at home are Hispanic.

“The decision to stay with Mom could be driven by affordability or culture,” Zillow says. “In general, Hispanic families are more likely to live in multigenerational households, and many of the places with a large share of young adults living with Mom also have large Hispanic communities.”

Underscoring that conclusion, heavily Hispanic communities such as El Paso, Texas, and McAllen, Texas, also had a third of millennials still living at home.

Reader Comments 0

0 comments