Rising rents force a third of recent grads to move back home

Clever Real Estate's analysis reveals that roughly 30% of recent college graduates have moved back into their family home in the past five years, a notable drop from the record 52% reported in July 2020. The study attributes the trend chiefly to soaring living expenses, with 58% of respondents naming cost of living as the chief reason, while 52% aim to save money and 34% struggle to secure a job. A substantial 76% of Gen Zers residing with parents still rely on parental financial aid, compared with 59% of those living independently.

Aspirations for rapid financial independence are unmet: 61% expected to be self-sufficient within a year, yet only half succeeded. Many who have not launched financially are even hoping for a housing market crash to make home ownership attainable. To avoid returning home, some consider extreme measures such as skipping meals, living in a car, or cohabiting with a new partner.