San Antonio, we have a failure to launch.
A new study done by the Real Estate website Zillow found that a growing number of millennials are refusing to move out of their parent's house, News Radio 1200 WOAI reports.
Economist Sarah Mikhitarian says it's because rents are outpacing income.
"And that's made it really difficult for young adults, who are early in their careers, to be able to save enough money for a down payment on a future home," she tells Newsradio 1200 WOAI.
While the trend is most prominent in large cities, San Antonio is fifth in the nation when it comes to people between the ages of 24 and 36 living at home with their parents.
"Twenty-nine percent of millennials are currently living with their mom and dad. That's up from 14-percnet in 2005," she explains. "It has doubled over the last decade, which is a testament to just how long lasting the effects of the last economic downtown have been on young adults."
Nationally, 22-percent of millennials still live at home, according to the Zillow report.
Austin, at 14-percent, has the smallest share of millennials living in their parent’s basement. Officials say one reason for that is Austin, as a college town, probably has a very low percentage of Millennials who actually grew up in the city, and who have a parent's home to move back into.
Top 10 metro areas of millennials living at home
1 - Miami-Fort Lauderdale 33.4%
2 - Riverside, Ca. 33.0%
3 - New York City 30.3%
4 - Los Angeles 30.2%
5 - San Antonio 29.2%
6 - Philadelphia 28.5%
7 - New Orleans 26.8%
8 - Providence 26.2%
9 - Chicago 26.1%
T-10 - Detroit 24.2%
T-10 - Baltimore 24.2%
T-10 - Hartford 24.2%
Lowest 10 metro areas of millennials living at home
1 - Austin 13.9%
2 - Seattle 14.4%
3 - Denver 15.0%
4 - Oklahoma City 15.2%
5 - Kansas City 15.4%
6 - Minneapolis-St. Paul 16.5%
7 - Nashville 16.6%
T-8 - Columbus 16.8%
T-8 - Indianapolis 16.8%
10 - Portland 17.0%