Millennials are most likely to be living at home in New Jersey, New York, and California.
- Millennials are grappling with issues like student loans and pricey housing.
- Many of them also have to be caregivers to elderly parents.
- As a result, an increasing amount of millennials live with their parents.
- According to a Comet study, the state with the highest proportion of millennials living at home is New Jersey, where 12.5% of millennials live at home.
Thanks to a slew of economic factors like student loans and the rising cost of housing, more and more millennials are living at home.
A recent study by student loan refinancing firm Comet found the states with the highest proportions of millennials living at home. Coastal areas like New Jersey, California, and New York took the cake.
"New Jersey, California, and New York are densely populated urban areas that are notorious for being high-priced," Joe Mercurio, project manager for Comet, told Business Insider. "Between the cost of living, high property taxes, and the sheer amount of student loan debt young adults are taking on, it's not surprising why children are moving back in with their parents."
States like North and South Dakota had the lowest proportion of millennials living at home. That's thanks to the low cost of living in those states, Mercurio said.
"The cost of living in Midwestern states routinely ranks among the lowest in the nation, which is appealing to recent grads with mounds of student debt," Mercurio told Business Insider.
A quick note on the data for this piece: Comet provided the numbers of millennials living at home per 10,000. We rounded that to a tenth of a percentage point. While some states appear to be tied in the percentages, look below at the description to see the more precise number.
See where your state ranks for millennials who are still living at home: