Jan 11, 2022 - Economy

"Boomerang kids" flee the nest

Americans aged 18-29 living with at least one parent
Data: BLS Current Population Survey via IPUMS; Chart: Baidi Wang/Axios

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%.

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