Survey: Majority of young adults who moved back in with parents during pandemic still live there

The majority of young adults who moved back home with their parents at the outset of the pandemic still live there, according to a new survey, a sign that the economic fallout surrounding pandemic policies in the U.S. continues to squeeze more and more Americans. 

Many adults who had just recently graduated college opted to head home at the start of the pandemic in the U.S., when businesses closed, urban centers shut down, and financial situations became precarious overnight. 

LendingTree reported last week that "nearly a third (32%) of millennials and Gen Zers moved back home with their parents during the pandemic," with the company finding this summer that "most still live there."

"Two-thirds of young adults who moved back home remain with their parents. Slightly more than half (51%) of those who moved home say it was out of necessity," the financial services firm said. 

Many of the young adults who are still at home with their folks reported that they are "focusing on paying down debt and saving for a home," the company said.

The runaway inflation that has gripped much of the world over the past year or so has likely played a further role in keeping young adults at home with their parents. 

“With inflation as high as it is and with rates rising, it can be difficult for anyone to make ends meet in today’s economy,” says Jacob Channel, a senior economist at LendingTree, said of the results.