A Boost in Home Sharing
Over the last two decades home sharing has become more common. Those among the population that home share the most are young adults according to new NAHB research.
In 1990 only 4% of 24 – 35-year olds shared housing (1.8 million) while in 2016 7.5% shared housing (that is over 3.3 million). This represents an 80% increase nationwide since 1990.
During the recession it was common for young adults to move back in with their parents, other relatives or in-laws. In 2006 19% of young adults (25 – 34) lived with parents or relatives and this tread has been on a steady increase. In 2016 it was reported that 26% of young adults (25 – 34) live with parents or relatives. Within the 26%, twenty one percent lived with parents or in-laws and the roughly 5.2% lived with other relatives.
The largest segments of house sharers by state include California, Hawaii and New York (states with the most expensive housing markets). These states also include some of the lowest headship rates, meaning the share of young adults who are household heads. Colorado and Oregon have 11% young adult house sharers and an above average headship rate. District of Columbia has 20% with the headship rate at 40%.
