Young people continue living with parents despite being employed; what are the causes and consequences?

Young people in Europe continue living with their parents despite being employed; what are the causes and the consequences? 

Young people in Europe live with parents despite being employed

A 2023 Eurostat report revealed that prices of property across the EU have surged by 47 per cent between 2010 and 2022 and are only continuing to increase. Due to the high prices, many young people are not financially capable of renting property, despite being employed and receiving a regular salary.

In Ireland, where rents have doubled since 2013, 40 per cent of employed people between the ages of 25-34 still live with their parents. In France, the per centage of employed young people living with their family rose from 10 to 12 per cent, and in Italy, it reached 48 per cent. Eszter Sandor from the Eurofound research stated that in Ireland it is now “common for young people to live with their parents either due to necessity or as part of a family decision to help save money for a future mortgage deposit.” 

While northern European countries have lower percentages, such as only 2 per cent of 25-34 year olds in employment living with their parents in Sweden and Finland, the rates in southern Europe continue to rise. In Croatia, the majority of 65 per cent of the young people live with their parents despite having a job; in Greece, it is 57 per cent, and in Portugal 52.

Is the young and employed living with parents a norm in Southern Europe?

While southern countries are not strangers to housing large families and pertain cultural value of family links, most young people express their desire to become independent. Today, seven out of 10 employed young people in Spain still share a home with their parents, revealed The Consejo de la Juventud; referencing people aged 16-29.

Although Spain has steered away from dire youth unemployment, property prices continue to increase and average wages make it practically impossible to keep up with the living costs. According to data from the youth council, the average rental cost is now €968 per month. Considering the average wage of young people, they would have to use 92 per cent of their paycheck for rent, with hardly anything left to live off.

As the unwritten law that the cost of property should not exceed one-third of one´s monthly income, has been broken, young people have been considering renting out rooms, yet even these, priced at least €380 per month, would in cities like Malaga, Seville, and Barcelona, rise to 40 per cent of their salary; these are also the cities where most jobs are found.

The consequences of young and employed living with parents 

While many parents fear the day when they see their child leave home, with the financial crisis, many are finding that they have overstayed their welcome. Eurofound disclosed that young people who have already gained a degree of independence by becoming employed, yet still live with their parents “were found to feel more socially excluded if living with their parents, and had lower mental wellbeing, linked to feelings of lack of autonomy and freedom.” 

The report also revealed that half of young people living with their parents want to move out within a year but only 28 per cent said they actually planned to do so.