More millennials are packing their bags and moving back home. A new report by real estate website Zillow, out May 10, says more and more millennials are moving back in with their moms.
Zillow's newest report says 14.4 percent of Seattle millennials lived with their mom in 2016. That's up from 9.2 percent, recorded in 2005.
The national average is 22.5 percent.
Seattle has one of the lowest percentages of millennials living with mom, only higher by Austin, TX. Denver and Oklahoma City are close behind.
"Despite a strong economic recovery, the share of millennials living with their moms has been increasing since 2005, when just 13.5 percent lived with their moms," Zillow said in a release."The combination of rapidly rising rents and slow income growth over the past half-decade drove many young adults to either move back in or never move out of their parents’ home, but the trend has been persistent even as the U.S. labor market has improved."
Zillow's analysis shows more millennials are living with their moms "in areas where housing costs consume a larger share of income." In some of the largest cities, the percentage of millennials living with their moms is higher where rents are often 35 percent of the median income.
STATS | How do other big cities compare?
