More New Jersey adults live with their parents
New Jersey leads the nation in yet another category: the percentage of young adults who live with their parents. According to Census Bureau statistics quoted on NorthJersey.com, 47% of people age 18-34 still live at home in New Jersey. The median income for those age 25-34 is $40,000 a year in the US and, with the high cost of rents and home ownership in the Garden State, it is harder for young people to make it on their own than it is in North Dakota or South Dakota which have the two lowest rates of young people living with mom and/or dad.
NorthJersey.com quotes the average cost of renting in NJ at $1284 a month while in the midwest, it ranges from $700-1000. For New Jerseysans, the average weekly output for cell phone, student loan payment, gas, food, clothing, health insurance, utilities and other costs comes to about $275 and the median income is $3300 a month before taxes. There’s not much left over for rent or a mortgage. Connecticut, Rhode Island, and New York follow behind New Jersey and Nebraska, Iowa, and Wyoming have the lowest percentage of young adults living at home behind the Dakotas.
More from New Jersey 101.5: