'We should absolutely be concerned about non-college-educated men today': higher rents, living at home, falling out of the labor market

Key Points:

• Rising housing costs in the U.S. have led to a significant increase in non-college-educated men moving back in with their parents, with one in six now living at home compared to 8% of college-educated men, according to a new study by Gabrielle Penrose.
• Since 1960, real rents have increased by 150%, while wages for men without college degrees have stagnated, contributing to higher rates of men living at home and a decline in their labor force participation, as many drop out of work altogether after moving back.
• Geographic constraints limiting housing supply, such as mountains and coastlines, exacerbate high housing costs, disproportionately affecting men who are less able to afford independent living; meanwhile, baby boomer parents with substantial housing wealth are more able to support adult children.
• Men living with parents are 20 percentage points less likely to be employed than those living independently, and housing costs may explain about a third of the employment decline among non-college men, highlighting the unintended negative effects of zoning restrictions on workforce participation.
• Declining marriage rates among working-class men intensify the issue, as single men face greater financial burdens from high housing costs without the support of a spouse, leading to reduced work engagement and increased dependence on parental homes.