Miami, FL – A recent analysis reveals a significant number of working adults in Miami are choosing to live with their parents due to financial pressures. The study, conducted by LendingTree, examined data from the U.S. Census Bureau’s American Community Survey between 2018 and 2023.
The findings indicate that 17.8% of employed adults aged 25 to 40 in Miami reside with at least one parent, ranking the city third among the 50 largest U.S. metropolitan areas. Riverside, California, leads with 21.9%, followed by Los Angeles at 20%.
Financial challenges appear to be a driving factor. Adults living with their parents earn an average annual income of $39,622, which is 43.5% less than their peers living independently, who average $70,137. Despite 36% holding at least a bachelor’s degree, these individuals face substantial income disparities…