SACRAMENTO, Calif. (KTXL) – A new study found that nearly two-thirds of young adults in California have moved back in with their parents over the past year.
A survey conducted by ISoldMyHouse.com showed that 62% of Californians between the ages of 18 and 35 years old have moved back in with their parents over the past year, compared to the national average of 36%.
The study found that 16% of respondents receive financial support from their parents as well.
The average rental price for a home increased 7.9% last year, with some urban areas reaching an increase of 12%. Housing prices have increased 26% in that same span of time.
The sudden accommodation of adult children has caused 15% of responding parents to say they feel burdened by having to house their non-rent-paying “tenants,” with 15% having to delay their retirement plans in order to support them.
An interactive map of national survey answers can be found here.