Jan 11, 2022 - Economy & Business
"Boomerang kids" flee the nest
The nest is empty — again.
What’s happening: The percentage of young adults — or "boomerang kids" — who live with their parents is back to pre-pandemic levels, according to a recent report from the Federal Reserve Bank of Cleveland.
By the numbers: Nearly 47% of adults aged 18–29 were living with their parents as of September, the lowest point since February 2020.
The big picture: 36% of boomerang kids live with families in the top 20%, with a household income of more than $140,000.”
Editor’s note: This story has been corrected to state that 36% of “boomerang kids” live with families in the top 20% of household income, not the top 10%.