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America’s 26-year-olds: Living with parents or getting married?

STATEN ISLAND, N.Y.

— Years ago, at age 26, many people were either in the process of tying the knot, or already married and planning a family.

It wasn’t uncommon for Baby Boomers and Generation-Xers to have purchased their first home by the time they were 26 years old.

But times are surely changing.

Fifty years ago, 76% of 26-year-olds in America lived with their spouse, according to a new study by Apartment List.

Today, that share has plummeted to 24%. In fact, 26-year-olds are now more likely to live with a parent than a spouse, the study says.

Due to skyrocketing college costs, and the millennial generation becoming saddled with student loan debt, marriage and families aren’t something most people are thinking about at age 26.

STUDY FINDINGS

Overall, the study revealed American young adults today are 46% more likely to live with a parent than in 2007, 32% more likely to move in with a partner before getting married, and 19% more likely to have a non-family roommate.

In the New York metro area, the number of “unrelated households,”multi-family units or roommates living under one roof, increased 18.5% since 2007, the study says.

“Cultural and economic shifts are changing what the average household looks like in and around New York. Particularly due to the cost of raising a family, we see that nuclear family households are shrinking while child-free households (i.

e., individuals and couples living alone) are becoming increasingly popular,” said Rob Warnock of Apartment List.

“Fewer people today are starting families, and those who do, may prefer to do so in more-affordable parts of the country,” he added.

STATEN ISLAND FOLLOWS NATIONAL TREND

And this rings true on Staten Island, where there are less millennials in the housing market.

“As so many things have changed over the last 20 years, so have our social patterns and that indelibly ties to real estate patterns,” said James prendamano, CEO of Casandra Properties, which has two Island-based offices.

Today, the average age for marriage is 28.

2, so your seeing these folks stay at home longer in many cases to pay back large student loans, save on housing costs etc.,” he added.

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