DENVER (KDVR) — A new survey shows a growing number of young adults in Colorado are moving in with their parents right now.
That’s roughly 21% of 18-35 year-olds.
The national average of adult children moving back home with mom and dad sits at 36%, which is far worse than what we’re seeing in our state.
A major reason for this: pandemic-related job losses and our red hot real estate market.
“Home affordability is at a low and availability is at a low too. So what that is it’s creating a difficult situation for young adults,” said Kris Lippi, a real estate broker and creator of isoldmyhouse.com. “They’re competing against people who have more money, they’re able to to make better offers, more cash offers”.
According to the home improvement company, ‘Porch’, allowing just one of your kids to come home will set you back about $459 per month.