Moving Soon? New Study Shows Millennials Not Moving Far
September 30, 2022
Millennials Staying Close to Home
For many people, young adulthood is a time where moving to a new location is quite common. We finish our education and begin working for a living, often moving away from parents and relocating to a new locale. In fact, surveys show that GenZ (age 18 to 24) and Millennials (age 25 to 31) were the most likely to move during the Covid-19 pandemic.
Yet according to a new study released in July by US Census Bureau and Harvard University, more millennials are living relatively close to the same area where they grew up.
The study findings showed that by age 26, over two-thirds of all young adults in the United States were living in the same area where they grew up; 80% had moved less than 100 miles away, and 90% were living within 500 miles.
The study primarily examined people born between 1984 and 1992 who moved away from the commuting zone where they grew up. There are over 700 commuting zones, made up of one or more counties in a local labor market, in the US.
This moving reluctance for millennials is backed up by data showing an extensive decline in mobility for the US overall. It’s down from a high in the 1950s of about 20% to 8.4%, and contributing factors include an aging population, dual-income households that make it a challenge to up and move, and most recently the global pandemic. That being said, there were 20% more people who moved in 2021 than 2020.
In addition, a recent Pew Research Center survey found that young people are often living with extended family — around 25% of US adults age 25 to 34 were living in a multi-generational family home in 2021, compared to 9% back in 1971.
Perhaps you’re in the market for a move or relocation, though. At Beltmann, we’re available to help you prepare for any upcoming move and storage needs. Just contact us today for a free contactless quote.
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If you’re looking to find insights and life hacks on how to fully prepare for an interstate move, check out our previous post.
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