And no, we don’t mean sex
We aren’t moving.
The rate of Americans — including the notoriously mobile under-35ers — who move from one home to another has hit an all-time low, according to data released Wednesday by Trulia. Just 10.9% of Americans relocated in 2017 — the lowest moving rate since the government began tracking this data 50 years ago.
That may be driven by two possible factors, Trulia Housing Data Analyst Alexandra Lee says: 1) Rents have finally stabilized, so Americans aren’t being pushed out of their pads by landlords jacking up their rents, and 2) home inventory is low, so it’s harder to find a new place to buy.
But perhaps most surprising is that the moving rate (26.3%) among the under-35 set — a group which always leads the pack in terms of the percentage of those packing it up during a given year — is also at an all-time low. Just 17.6 million moved in 2017.
So what’s driving millennials to move — or not?
Young women are closing the moving-for-work gap with men. “Women are more likely to move for a job than they were a generation ago,” Trulia reveals. In 2000, 24% of moves by young men were for jobs, compared to 15% of moves by young women, but last year that difference fell within five percentage points (24% for men and 19% for women). “The shrinking gap is notably not due to young males moving less for jobs, but young females catching up,” Trulia concluded. Lee suggests that this hints that there is now “more parity in the job market.”
Wedding bells aren’t moving the needle. For millennials, marriage isn’t nearly as big a factor in moving as it was for older generations when they were their age, with just 4.3% of millennials citing a change in marital status as the reason they were moving. “Younger Americans today are nearly twice as likely as they were in 2000 to move out to be on their own as opposed to marriage being a primary reason,” the Trulia study concluded.
That’s likely because many are delaying marriage or putting it off altogether: Indeed, in 2016, the median age for a first marriage was 27.4 for women and 29.5 for men – roughly seven years more than the median ages in 1960. Plus, one in seven unmarried people say they don’t want to get hitched, according to data from the Pew Research Center.
But most importantly, millennials move for independence. The No. 1 reason millennials move is to start their own household — which could mean moving out of their parents’ home or ditching the roommates — with 18% saying that’s why they packed their bags. That’s different than older generations, Lee explains, noting that those in the 35-55 age group tend to move more for better or newer housing.
Here are other reasons they’re moving:
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