As the days go by, it gets increasingly harder for millennials to find their independence. Living under their parent’s roof has become the norm despite their age. According to a ABODO’s analysis of U.S Census data it has been reported that 34.1% of millennials nationwide are still living with their parents. Miami, Fort Lauderdale and West Palm Beach Florida have taken the number one spot in the nation, with a 44.8 percent of millennials still living at home.
Fahad Din, 26, millennial:
“I can clearly see how we made it to to the top of the charts. I am 26 years old and the amount of friends of mine living at home is extremely high.”
Veronica Bayona (voice over):
A combination of high rent, lack of education, unemployment and low pay, all play a part in why millennial’s don’t see moving out as an attractive possibility.
Daniela Rojas, 25, millennial:
“Right now it’s more of a need, I’m doing school full time right now, I’m getting my second degree, so I’m focusing on that. And my parents are allowing me to stay with them until I achieve that goal, and then I can go ahead and move out and do my own thing.
Bayona (stand up)
In Miami the median monthly income for millennials living at home averages out to $1,211. With the average rent in Miami standing at $959, that leaves millennials with only about $250 after rent to spare.
Diego Rojas (Daniela Rojas’ father):
“As long as she stays productive, and also helps with covering her expenses, that’s ok. She’s working part time and she’s not representing a burden for us in the family.”
Johnathan Vega, ONE Sotheby’s International Realty:
I think in the near future it’ll only be harder for the millennials to live on their own, or to move out of home and purchase. I say that because since 2015 the prices have stabilized or even decreased quite a bit because there is so much competition out there. But once the inventory is absorbed, the prices will go up.
Bayona (stand up):
The choice to live at home appears to have now shifted to being millennials only option. Reporting for the South Florida News Service, I am Veronica Bayona.