Multi-generational living has reached new highs across the country, with Fort Myers among the top cities where many adults are still living with their parents.
With multi-generational housing being one of the drivers of the self storage industry, the STORAGECafé research team wanted to identify where in the US multi-generational living is most prevalent.
Here are some of our key findings:
- A total of 44% of young adults between the ages of 18 and 34 are still living with their parents in the Cape Coral-Fort Myers area, making the metro rank at number 7 on the list of medium-sized metros.
- Over the past 5 years, Fort Myers has seen an increase of 3% in the incidence of multiple generations living under one roof, from 41% in 2015.
- Florida state has pushed ahead in terms of multi-gen living by several cities where percentages of adult children living at home are higher than 35% and it ranks 13th nationwide for the highest share of multi-gen households.
- Miami tops the list in the large markets, Orlando is in 10th place with 37% of that age group living at home.
- In the medium market range, North Port-Sarasota is followed by Cape Coral-Fort Myers with 44%. Lakeland-Winter Haven makes the list at number 10 with 43%.
- Teleworking is emerging as one of the new drivers of multi-generational living. For Floridians between the ages of 18 and 39, teleworking was close to 40% at the end of last year, showing a 8% increase over the latter months of the year.
A variety of factors can lead to young adults choosing to stay at home, including economic, social, and psychological factors as of late. Also, with high levels of unemployment triggered by the pandemic, multi-gen living is likely to become an attractive option for even more young adults in the future.
You can read the full report together with what experts have to say on the reasons behind the rise of multi-gen living, here: https://www.storagecafe.com/blog/multigenerational-living-highest-in-50-years/
If this is something you would be interested in covering, please feel free to use the data and visuals as you see fit. Please don’t hesitate to email me if you have any questions or if you would like more details.
*By Aura Mogosanu, Communications Specialist, Storage Cafe, Email