The Blubber

60% of 30- to 34-year-olds in 1993 having at least one child.

Today, that's plunged to 27%.


Having a college degree is associated with increased lifetime earnings and various financial advantages. However, there is a downside: A higher proportion of young adults have student loans compared to previous generations. Currently, approximately 43% of individuals aged 25 to 29 carry student debt, a significant rise from 28% in 1993.

Moreover, the study reveals that young homeowners are shouldering more mortgage debt. When adjusted for inflation, homeowners aged 29 to 34 hold around $190,000 in mortgage debt today, compared to $120,000 in 1993.

The trend of young adults living at home has also intensified, potentially due to mounting debt and financial challenges. Social perceptions have evolved, with less stigma associated with residing with parents. Presently, about 57% of individuals aged 18 to 24 live with their parents, up from 53% in 1993.

"The soaring costs of housing and rent play a significant role in this phenomenon," remarked Parker. "The notion of young adults living with their parents has become increasingly accepted compared to previous generations."

Additionally, young Americans are postponing major life events such as marriage and parenthood. In 1993, approximately 63% of individuals aged 30 to 34 were married, whereas today, only 51% are married. Similarly, the percentage of individuals in the same age group who are parents has drastically declined, from about 60% in 1993 to 27% today.

"These shifts indicate a significant delay in reaching traditional milestones," Parker observed. This delay could stem from financial factors, given the high cost of raising children, which averages $237,482 from birth to age 18 according to recent analysis. However, it may also reflect cultural changes, as indicated by a separate Pew study revealing a growing proportion of Americans who do not anticipate having children.