Young Australians are staying in the family home for longer – and it’s not hard to see why
Summary
Many young Australians aged 18 to 29 are living with their parents, with nearly 50% doing so in 2024 compared to 39% in 2001. The trends show rising education levels and employment rates overall, but some groups, particularly less educated men and women aged 25 to 44, face declining full-time work and lower labor participation.Key Facts
- In 2024, almost half of Australians aged 18-29 live with their parents, up from 39% in 2001.
- More young people are studying longer, and the high cost of moving out also contributes to staying home.
- Employment rates are high in 2024, with 84.4% of working-age men and 76% of working-age women employed.
- Over half of women aged 25-44 now have a university degree; women are generally better educated than men in all age groups.
- Men aged 25-44 without a high school diploma have seen a fall in full-time jobs, from 70% in 2001 to 63% in 2024, with more leaving the workforce.
- Women in the same education group (no high school or higher education) also have lower workforce participation, dropping from 60% in 2001 to 52% in 2024.
- Median household income peaked around 2021 but dropped by 2024 due to rising living costs after the pandemic.
- Despite higher incomes in recent years, Australians report feeling less financially secure after the COVID-19 pandemic.
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