Millennials are moving home

The Millennial generation is most likely to move back in with their parents after graduation

Lilyana Espinoza | News Editor | The USD Vista

An increasing number of Millennials, who according to the Pew Research Center are people born between 1981-1996, are making the decision to move back home with their parents after graduation.

Senior Julia Torgerson is a Millennial who has decided to move back home after graduation. She believes Millennials should not feel ashamed to move back home with their parents because of the great advantages that accompany the transition.

“I am not embarrassed about (moving back home to Seattle) in the slightest and I don’t think anyone should be,” Torgerson said. “I think parents can give us the stability and the comfort of trying to figure (our lives) out. Our careers are going to be for the rest of our lives. What is another five or six months of living at home? Even if it is two years, the investment you are saving by living at home is ridiculous. As long as you are working hard and working toward your career there is nothing wrong with saving that money.”

Having the ability to save money rather than spend it on housing is the main advantage for Torgerson when it comes to returning home after graduation.

“If I lived in San Diego, I would be spending anywhere between $700 to $1,200 just on rent,” Torgerson said. “Not having to do that and living at home is going to save me a tremendous amount of money that I could then put toward a down payment on an apartment or house, which is a long-term goal of mine.”

According to the Pew Research Center data as of 2016, the Millennial generation is the generation most likely to live at home. Fifteen percent of Millennials are likely to live at home, which is five percent more than Generation Xers, born between 1965-1980, and almost double the number of the Boomers, born between 1946-1964. Ten percent of Millennials in 2016 versus seven percent of Generation Xers in 2000 live at home.

According to TD Ameritrade’s 2017 data, 37 percent of Millennials have moved or plan to move back in with their parents after college.

Renda Quinn, director of the Office of Parent Relations, recognized the stigma that was generally associated with moving back in with parents after graduation.

“Back in the day there was that stigma that came with going home after college and living with your parents,” Quinn said. “I know I would have thought of that (and) regardless if I could afford it or not, I was going to figure out a way not to come back home. I think that now the relationship is different with parents than it was in the past. I don’t think it is a bad thing to go back to your home after graduation, and I think Millennials are smart in a lot of ways because it allows them to build a base so that they are not trying to make ends meet while they are just beginning to be established in their careers.”

Senior Madison Burningham decided around October of last year that she wanted to move back home to Sonoma, California after her graduation in May.

“I decided I wanted to move back home because I will be having major dental surgery that has about a year to a year and a half recovery time,” Burningham said. “I feel because that is my main reasoning for moving back home people are very understanding and supportive of my decision. However, I feel that if I didn’t have that reason, people would look down on me that I have decided to move back in with my parents after my time here at USD.”

USD’s class of 2017 Millennials are reportedly successful after obtaining their degrees and are not put behind by living with their parents. The USD Career Development Center (CDev) took data from the class of 2017 and found that 94.5 percent of respondents reported their current position at least somewhat aligns with their career goals. Another striking statistic is 93.9 percent of graduates are employed, in graduate school, in the military, or participating in full-time volunteer service.

Millennials who have decided to move back in with their parents have the ability to save money, pay off their student debt, and have some stability during that transition period of finding a permanent career.

Robin Darmon, senior director of the CDev, also noticed the financial benefit of moving back home for Millennials.

“What I observe is that (the Millennial) generation will move back home just because it is so expensive to get started,” Darmon said. “Back when I graduated my parents basically said you are out of the house. But that was possible. I could find something to rent for $200 a month.”

Darmon’s experience in the CDev has led her to notice how Millennials operated while trying to find a career.

“I think Millennials were seeking their passion and seeking something that fulfilled them,” Darmon said. “They also wanted something that allowed much more flexibility. They wanted that work-life balance in a very different way than my generation did.”

As time goes on, Generation Z, the label for the generation following the Millennials, will graduate. By observing how Generation Z students are asking questions in regard to finding a job, Darmon finds potential for Generation Z to go back to wanting stability rather than seek fulfillment.

“I think the Generation Zs are more concerned than ever about a path that gives them stability,” Darmon said. “I get more and more emails from the Generation Zs asking, ‘On that track Robin you happen to say that certain companies will pay for my master’s. I want to get my degree, get a job, start getting my master’s, but I want the master’s paid for. Give me that list.’ I haven’t had those kinds of questions in about 10 years. So (the Generation Zs) are, in general, thinking more about that future and debt-free kind of path.”

Data has shown that as the generations go by, more students are moving back home with their parents after graduation. Time will show how Generation Z students will plan and manage their post-graduation life, and whether that generation will continue the increasing trend of moving back home after college or reverse the cycle.