Key facts
- Nearly 50% of Australians aged 18-29 lived at home in 2024, up from 39% in 2001.
- 36% of 18- to 29-year-olds living at home in 2024 were full-time students.
- Full-time employment for men aged 25-44 without a Year 12 completion fell from 70% to 63% between 2001 and 2024.
- Women aged 25-44 not completing high school saw their share outside the labor force rise from 40% to 48% between 2001 and 2024.
- Median disposable household incomes in 2024 were lower than the 2021 peak but higher than in 2019.
- Financial wellbeing scores declined between 2020 and 2024 for most age groups.
Young Australians are increasingly choosing to live with their parents for longer, a trend driven by a combination of extended education and the rising cost of housing, according to the latest findings from the Household, Income and Labour Dynamics in Australia (HILDA) survey. The survey, which has tracked thousands of Australians since 2001, indicates that nearly half of individuals aged 18-29 were living at home in 2024, a notable increase from 39% at the turn of the century.
More than a third of these young adults living with their parents are full-time students, highlighting the role of longer study periods. However, the escalating cost of independent living is also a significant factor. Weekly mortgage payments have surged to new highs, and private rental costs have climbed substantially, putting pressure on household budgets. This financial strain is particularly acute for renters, with over 31% in Sydney and 30% in regional areas experiencing housing stress, defined as spending more than 30% of disposable income on housing.
The HILDA survey also revealed shifts in employment and financial wellbeing. While overall employment rates reached record highs in 2024, men aged 25-44 who did not complete high school have seen a decline in full-time work and an increase in labor force withdrawal. Similarly, women who left school without higher education qualifications have also experienced higher rates of workforce exit. Despite higher median household incomes compared to pre-pandemic levels, reported financial wellbeing has declined, with fewer Australians feeling on top of their finances or comfortable with their spending relative to income.