Boulder Millennial Just One Of Growing Number Living With Parents
By Tom Mustin
BOULDER, Colo. (CBS4) - For the first time in more than a century more young adults are living with mom and dad than those living on their own.
"It would be nice to be on my own," Boulder resident Cole Abshire-Hayes said.
He's among the growing number of Millennials living at home.
"It's hard to make enough money to get out of the house," Abshire-Hayes told CBS4's Tom Mustin.
A new study by the Pew Research Center found that nearly a third of all people from the age of 18 to 34 live with their parents -- more than any other living arrangement. The study also found Millennials are getting married later. It's the first time since 1880 -- when records were first kept -- that more people are living with parents than with a spouse or roommates.
"It's really just all financial. It's difficult, especially here to make enough to live on your own," Abshire-Hayes said.
He's 22 years old and left the Denver Art Institute a year and a half ago. His goal is to make video games. He also works on websites. His mother, Amy, says having him home has been an adjustment, but she realizes right now he can't afford to live on his own.
"First and last months' and deposit, we're talking $3,000 walking in the door," she told Mustin.
Andrew Butkus works in the recruiting business with Robert Half Technology. He says given today's economy, he's not surprised by the new study.
"The standard of living is usually a little more than what your first job pays. Options like living at home with your folks or family members can ease the cost of living," Butkus said.
Abshire-Hayes says he hopes to save enough money to move out in six months. His mother Amy has some advice for the growing number of parents whose children have returned to the nest.
"Love who they are. Love them where they are, and help them step out the door."