Report: Vegas millennials choosing to live with mom due to rise of rent, unemployment

LAS VEGAS (KSNV) — Across the United States, more millennials are choosing to live at home with their mom,due to quickly rising rent and incomes that will not pay for the bills according to Zillow.

The combination of rapidly rising rents and slow income growth over the past half-decade drove many young adults to either move back in or never move out of their parents home. However, the trend has been a persistent event as the U.S. labor market has improved.

Zillow's report says, nearly a quarter of millennials from the ages of 24 to 36 live with their mom, an increase from 13.5 percent in 2005.The trend is more pronounced in areas where housing costs consume a larger share of income.

In the Las Vegas area, 24 percent of millennials live with their mom, an increase from 11 percent in 2005.

The median rent in Las Vegas is $1,302 per month. Studies show the typical renter spends 27.4 percent of their monthly income on rent alone. Among the millennials living with their mom, 12.5 percent of them are unemployed.