Young adults move back in with parents due to economy, rental market

Source: WTOP — 

Young adults across the D.C. region are making the choice to move back home with mom and dad, and while the free housing cuts down on monthly expenses, it doesn’t come without a cost.

In Virginia, 42% of young adults have moved back in with their parents. In Maryland and the District, around 27% have made the same choice, according to the online real estate service ISoldMyHouse.com.

It’s called “boomeranging back home,” and a quarter of young adults in the D.C. area have done it over the past year. Many of those decisions are a result of the economy and the real estate market. The average rent for homes has increased by 8% over the past year.