Cities with The Most Parents Helping with Rent
Despite living in the nation’s most expensive markets from New York to San Francisco, millennials in these cities prove to be more financially dependent than those in smaller cities. In a study by Zumper, the results showed that while parents are still helping their millennial children pay for rent, it’s not in the markets we’d expect. In reality, the cities were actually very spread out throughout the country. Though pricey California did have the most cities on this list, and has 7 of the top 10 most expensive rental markets in the nation, the top 4 cities for millennials who require help with rentdid not include one California city. Surprisingly, the top two cities for these millennial in need of assistance included our “Motor City” capital, Detroit, MI, and Austin, TX, previously dubbed for being one of the fastest growing, yet affordable cities in the U.S.
Check out the top cities below.
- Detroit, MI reigned as the city with the most respondents that had parents helping pay for rent with 24% of renters needing help from good old mom and dad..
- Austin, TX had the second largest proportion of millennials in need in the nation at 23%. This city also has more than double the amount of respondents with parents helping with rent than the next Texas city, Houston.
- Philadelphia, PA was third with 18% of parents helping with rent.
- Las Vegas, NV followed closely behind as the fourth city with the most millennial requiring help with rent in the country. Renters with parental support in this desert city accounted for 15% of total respondents.
- San Jose, CA & Long Beach, CA, the first two California markets on this list, were tied at the fifth, both with 14% of respondents having parents help with rent.
Meanwhile, on the other end of the spectrum, popular millennial cities Washington D.C, New York and San Francisco have more independent millennials, all cities where the cost of living continues to be among the highest in the nation. San Diego, CA appears to be the most independent city with only 2% of respondents who had their parents help with rent, a whopping 22 point difference when compared to Detroit.
Age Breakdown
The group with the largest amount of millennials requiring rent support from mom and dad was respondents aged 18-24 (20%). This is most likely due to the fact that many of these respondents are in college so parents are paying for both rent and tuition.
Overall, fewer and fewer people have parents help pay for rent as they get older, most likely due to the fact that these individuals have found employment and independence, as less than 5% of respondents aged 45-65+ are still mooching.
Living with Parents
Compared to last year, there was a rise in respondents living with their parents in age groups 18-24, 25-36, and 37-44. The largest growth was in age group 18-24 with a 7 point year over year increase. Younger people seem to be staying home longer than they did previous years.
Age groups 45-64 and 65+ stayed about the same year over year.
Gender
When broken down by gender, women tend to have parents help pay for rent more often than men with a difference of 1 percent. While 9% of total female respondents were mooching off their parents, 8% of total male respondents did the same.
Similarly, more women (11%) lived with their parents than men (8%) overall, though the difference is not large.
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Read the entire report and methodology here.
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