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05 May 2016

19% of Atlanta Millennials Still Living at Home with Mom, Zillow Study Says

More millennials, age 24-34, live with their moms than at any time in the last decade, according to Zillow's latest analysis.

21% of millennials in the United States live with their moms -- a number that's been steadily increasing since 2005, when just 13 percent lived with their moms.

In Atlanta, 19.7% of millennials still live with their parents.

Click here to read the full Zillow report.

U.S. rents are on the rise and incomes have not kept up, especially for young adults, who have faced a sluggish job market over the last decade.

Over the past year, rents have increased almost three percent, while incomes have increased just 1.8 percent. The decision to stay with Mom could be driven by affordability or culture. In general, Hispanic families are more likely to live in multi-generational households, and many of the places with a large share of young adults living with Mom also have large Hispanic communities.

"With today's high rents and lagging income growth, many young people are having trouble setting aside enough money to buy their own home, delaying home ownership," said Zillow Chief Economist Dr. Svenja Gudell. "Living with their parents may allow young people to continue to do things like continue their education, save enough money for first and last month's rent, or save for a down payment."

The median rent in the U.S. is $1,389 per month. Zillow forecasts rents to increase about 3 percent over the next 12 months to a Zillow Rent Index of $1,426.

Zillow is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow's Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research.