A new Zillow analysis shows millions of young people who moved back in with their parents as unemployment soared in March and April pay an estimated $726 million in rent each month that’s now at risk.
In Las Vegas, 9.2% of renters are in Gen Z (18-25), and those that moved home in March and April represent $4.6 million in monthly rent payments at risk – 1% of the market.
The moves were mostly driven by unemployment, though some likely moved home when their college campus closed.
Their next move could have far-reaching effects on the housing market, potentially causing rent growth to slow or delaying their parents from downsizing.
The full report can be viewed here.
