The U.S. Census Bureau says relocating among young adults is at its lowest level in decades.
Parents like to know where their children are. In today’s economic market, that task is easier, because kids aren’t going anywhere, even when they become adults.
A 2013 U.S Census Bureau study shows that young American adults are not relocating. Some are not moving out of their parents’ homes, while others aren’t moving from city to city looking for work.
As a result of this trend, young Americans are being referred to as “Generation Wait.”
The Census Bureau numbers show that among adults aged 25-29, only 23.3 percent moved in the 12 months ending March 2013. That is the lowest level since at least 1963, and more than a 1 percent drop from the previous year’s percentage of 24.6.
For comparison, in 1965 a similar study by the Census Bureau found 36.7 percent of that age group relocated from one place to another.
Among young adults that did move in the last year, key locations with an increase in young adults were Austin, Tex., Houston and Portland, Ore. A significant percentage of college graduates 25 years of age and older moved into Denver and Washington, D.C.
Not only are young adults not moving from one city to another, they are not even moving from one location to another in the same area. The Census Bureau also measured moves within the same county, and that figure came out to a record low.
When young adults move, they do so either because they have purchased their first home, or are relocating because of a new job. But the low relocation numbers indicate neither is happening at the same rate as in the past.
The Census Bureau shows that homeownership dropped 3 percent for the entire population from 2007 to 2012, but that among adults ages 25-29, the drop was more than 6 percentage points, from 40.6 percent to 34.3 percent.
Mobility among Americans aged 55 and over was at 4.4 percent, with Atlanta, Denver, Phoenix and several communities in Florida registering the biggest gains. Population losses in that age group were recorded in many cities in the Northeast and Midwest, as well as coastal areas.
“The post-recession period has given a bigger boost to seniors than to young adults in their willingness to try out new places for retirement,’’ Brooking Institute demographer William H. Frey told Yahoo! News. “Many young adults, especially those without college degrees, are still stuck in place.”
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.