Young, unmarried couples are moving in together at high rates, but not for the reason you may think.
More than 11 percent of unmarried Americans aged 18 to 24 cohabitated with a romantic partner who wasn’t their spouse last year, according to new Census Bureau data. That’s about 3.2 million people, and roughly 650,000 more than before the pandemic.
What’s driving this trend? Well, it seems that love and money are inextricably linked. The need to save money is serving as a tipping point for many young couples who are turning to cohabitation sooner than they might have otherwise. With inflation driving up the cost of just about everything and rent prices hovering near record highs, it’s no surprise that many young couples are choosing to move in together to save money.
A recent Realtor.com survey found that 80 percent of Gen Z couples cited money as a main factor behind their decision to cohabitate. And for good reason — about one in four respondents said living with a partner allowed them to save more than $1,000 a month.
But financial stress isn’t the only reason young couples are moving in together. The past few decades have seen a rise in unmarried Americans living with a partner, as the idea around cohabitation has changed drastically.
But is cohabitation always a good idea? Definitely not. The study from Realtor.com found that 42 percent of respondents who moved in with a romantic partner ultimately regretted the decision.
