Two-thirds of singles in their 20s now live with their parents

Gone are the days when living at home in your 20s was seen as an embarrassing sign of arrested development. Today, 63% of single adults between the ages of 20 and 29 live with their parents, as do just over half of 25- to 29-year-olds. This inevitably raises issues about how families share costs, and what sort of living standards both older and younger generations can maintain in this arrangement. At the Centre for Research in Social Policy at Loughborough University, we’ve established a Minimum Income Standard, based on what income members of the public say is necessary for a person to meet their material needs and participate in society. According to our latest research, a single person living on their own in a rented flat needs to earn at least £18,400 a year, rising to £27,000 in London, to reach this minimum standard.  We found that, for young adults with modest means, high housing costs and difficulty saving money are the main motivation for living with parents. As well as saving on rent, a combined household can share the cost of council tax and water bills, save on heating and potentially save money by bulk buying food and other goods. Our research identified potential...