Record number of Valley adults living under one roof to save money
By Tami Hoey
PHOENIX -- A record number of Valley adults are moving in with family members or getting a roommate in order to make ends meet, according to a new study by Zillow.
The study found that one out of three adults, close to 33 percent, are moving in with other adults to defray living expenses. It’s a concept called “doubling up.” This is the highest doubling up rate in Phoenix history. In 2006, the percentage was 26 percent.
The researchers attribute a slow-to-improve employment market, high cost of rent, and flattened income levels.
Michael Orr, director of Real Estate Theory and Practice at A.S.U’s W.P. Carey School of Business, agrees. “Although the economy has really made a lot of progress, that really hasn't translated into higher wages,” Orr says. “If you can find friends or family members to share it with, that divides the cost and makes the money go further.”
The study looked at Census data from 2012, the last year the information was available. Orr says it’s possible that since the economy has shown improvement since then, that the figures have improved as well.