The number of adults moving back in with their parents has been steadily rising since the pandemic. In 2024, 46% of parents said that their adult children had moved back in with them at some point, according to a Thrivent survey.
Several economic factors are leading adult children back home, but rising housing costs and student loan debt. The average Generation Z borrower (born between 1997 and 2012) had an outstanding student loan balance of $24,473 as of 2023. Meanwhile, the average millennial borrower (born between 1981 and 1996) had a balance of $42,637, according to credit reporting company TransUnion.
