New Data Shows 1 in 3 Young Adults Face Housing Instability Due to Lack of Affordable Housing in America
Hidden homelessness is an epidemic that is growing silently across the nation. In a November 2024 piece, mainstream media outlet CNBC reported that roughly one in three young adults between the ages of 18 and 34 are still living at home with their parents, rendering them homeless or what some might refer to as unstably housed.
Sofa surfing can serve as a way for some young adults to save up for starter homes, but when the sofa becomes akin to a housing waitlist, it’s high time we think harder about our economy. Somehow, what once was starting has transitioned into stalling, and in the currently uncertain climate, stalling has given way to a screeching stop. Halting adults from living independently does much to damage their livelihoods and self-esteem. However, it has become a necessity as so many Millennials are living one mere emergency away from homelessness.
“My eldest daughter is a prime example of this,” explained one concerned parent in a brief discussion with Invisible People reporters. “She just turned 30 and has a young child. She has lived on her own, off and on, and has always worked full-time positions. She is a diligent worker, but, through no fault of her own, she’s always scraping by. Thankfully, she has a safety net with her family to catch her in case she encounters that one emergency that might otherwise render her homeless.”
“However, this takes an emotional toll on her – having to go from where she was in charge of her household, to living under someone else’s roof and following their rules, along with raising her child under these strained circumstances. Don’t get me wrong, she’s grateful, and we are all willing to contribute and work through it, but if there was more affordable housing, she would be able to weather the emergencies … Her circumstance always makes me think of all the people who don’t have a safety net to rely on. What are people in that situation supposed to do?”
This Version of Housing Instability Has Hit More than One in Three Young US Adults Between the Ages of 18 and 34
US Census Bureau data has made evident something so many of us already knew – that the housing market has failed an entire generation. According to the latest analytics, the bulk of Gen Z-ers (over 50%) simply don’t earn enough money to live the quality of life they worked so hard for. Now, one in every three 18–34-year-olds lives at home with one or both of their parents.
Many aptly view this as a negative stat that speaks volumes about modern societal norms. The safety nets that once existed have faded or vanished, and what is left is a retreat back into a near infantile state, where grown adults have little to no say over how they live their lives.
Along with a lack of choice, limited freedom, and restricted independence, there still exists a stigma about being an adult who lives at home. The fact of the matter is that many of the adults who find themselves in this situation are college-educated, responsible, and gainfully employed. Still, they will likely be presumed the opposite of all of the above due to harmful stereotypes.
Experts say the issue is not that these individuals can’t afford to live independently. The biggest issue is that they cannot afford to live independently in the event of an emergency.
Responsible people understand that an emergency is highly likely to happen, and they are planning according to their means. According to CNBC, less than half of all Americans can afford to incur an expense of more than $1,000. Yet, the average household has to fork over about $1,953 in annual emergency spending to survive.
These dollars have stopped making sense for young people, who see staying home as the most sensible thing they can do. Albeit, an inconvenient and temporary fix to evade homelessness is being presented through doubling up. However, in the long run, it only highlights the dire need for affordable housing.
The Economy Suffers, and Homelessness Grows
Bouncing in and out of the freedom of one’s own living space and a co-dependent situation can take a real toll on someone’s mental health. But there’s a bigger picture issue that is also happening. With this many adults between 18 and 34 opting out of housing entirely, the economy suffers.
Financial analysts estimate we are currently losing about $13,000 per person per year for every individual who doesn’t move out on their own. That money would have been cycled through systems that fuel food, transit, and, yes, even the housing market. Instead, it literally and figuratively remains in the cushions of somebody’s couch.
Clinical researcher and harm reductionist Kelsey León, who spends most of her time tending to homeless people’s wounds, proclaims that compassion is the key to ending this crisis.
“We desperately need more compassion because most Americans are much closer to being unhoused than they are to being a billionaire,” she said.
Demand Legislation that Prioritizes More Affordable Housing
The affordable housing shortage, which stands sharply at more than 7 million housing units, didn’t even exist a few generations ago. Indeed, there was a time in our not-so-distant past when there was a surplus of homes people could afford.
Talk to your local legislators about revisiting that chapter of recent history and using it to frame a blueprint for our future. The lives of emerging adults depend upon this, and it will likely affect your children’s lives.
