Despite earning more than women and having higher homeownership benefits, men are failing to launch at a higher rate.
When it comes to the battle of the sexes, who’s more likely to be a freeloader? Men, says a recent survey from Simply Self Storage.
Out of the nine percent of Americans still living at home with their parents, more than half (53 percent) are men while 47 percent are women. Though theoretically men have more opportunity to leave.
Research shows that men have eight percent more in home equity, or portion of a property a buyer truly owns, than women.
These percentages offer a broad view of all age groups, but of course the majority still living with parents are younger. Before we get too far into how most are millennials, though, lets take a quick bird’s eye view at who hasn’t left the nest…
- 18-24 year olds: 45 percent
- 25-34 year olds: 21 percent
- 35-44 year olds: 12 percent
- 45-54 year olds: 12 percent
- 55-64 year olds: 10 percent
The world has changed
So, why are men living with their parents longer?
There isn’t one clear definitive answer. But overall changes in society and the U.S. economy all add up to a bigger picture. Increasing education rates are one reason.
Women are more likely to go to college and work a career today than, let’s say, 1975. That was the year the Census Bureau used most recently to evaluate the changes in young adults’ living habits compared to this generation.
A study from Redfin says the same, and that women hold the majority (65 percent) of student loan debt in the U.S. The study took a look at home equity through the same lens as the gender pay gap in the workforce.
Women make eight cents less on every dollar in home equity than men, according to the study.
“Despite differences in equity appreciation, purchasing a home can help level the playing field between men and women,” says Redfin chief economist Nela Richardson. “In addition to setting labor standards that encourage pay equity, more can and should be done at the federal and local levels to support female homeownership through affordable housing policies.”
Going away to college
This trend has been carrying on for years now — men go to college less.
In 1965, 20 percent of women went away to college while 34 percent of men did. Fast forward to 2012, and women started outpacing men going away to college — with 44 percent of women compared 38 percent of men enrolled.
Then in 2012, 40 percent of millennial men were living with their parents compared to 32 percent of women, says Pew Research. The governmental fact tank also pointed to the increasing number of women going away to college.
Men wait to marry later in life, says the Census Bureau. Almost half (46 percent) of women marry before 30, while only 32 percent of men do.
Women are also more likely to be single mothers in this generation. In 1976, 31 percent of women had a child between ages 20-24, while 57 percent were married — in 2014, only 17 percent were married.
Aside from that, it takes women two years longer to pay down their student debt, says a study from the American Association of University Women. Which could make it harder to afford a down payment on a home.
The goal both men and women aim to put down on a home is 20 percent. More women than men can only afford a 3.5 percent down payment, though, says Redfin’s study.
Over the past 43 years fewer women choose to be homemakers, get married before 25, and have children. But men still out-earn women overall in the job market, says a study from PayScale.
“Overall men and women gravitate toward different careers,” the study says. “The most popular choices for men tend to pay higher than the most popular for women.”
It turns out men really do mature later than women.
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Article last modified on March 16, 2018. Published by Debt.com, LLC . Mobile users may also access the AMP Version: Men Live With Their Parents Longer Than Women - AMP.