Nearly half of Australians aged 18 to 29 were living with their parents in 2024, according to the latest Household, Income and Labour Dynamics in Australia (HILDA) survey, highlighting how housing costs and other pressures are shaping when young adults leave home.
The HILDA survey has followed the same households since 2001. The latest annual snapshot, released by the Melbourne Institute of Applied Economic and Social Research, covers about 17,000 people across 9,000 households each year.
In 2001, 39{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} of people aged 18 to 29 were living at home. By 2024, the figure had risen to just under 50{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9}. The survey found that 36{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} of 18- to 29-year-olds living at home in 2024 were full-time students.
The findings come as housing costs have increased and financial wellbeing has weakened. Median disposable household income was lower in 2024 than its 2021 peak, while housing costs were higher.
Weekly mortgage payments, including principal and interest, reached new highs between 2021 and 2024 as interest rates rose. Private rental costs, which had been relatively steady through the 2010s, also increased in the years that followed.
The survey found that financial wellbeing declined across most age groups between 2020 and 2024, with people aged over 65 the main exception. The share of people who said they could enjoy life “not at all” or “very little” because of money management rose from 11.3{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} in 2020 to 12.7{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} in 2024.
At the same time, the share who agreed or strongly agreed that they felt on top of their everyday finances fell from 62.1{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} in 2020 to 58.5{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} in 2024. The proportion who said they were comfortable with their current spending relative to their income also fell, from 60{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} to 53.8{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9}.
The survey also points to significant differences in housing stress between renters and homeowners. It uses the “30-40 rule”, which defines housing stress as housing costs above 30{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} of disposable household income for households in the bottom 40{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} of incomes.
Among capital-city renters, Sydney had the highest rate of housing stress in 2024, at more than 31{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9}, while Brisbane was at 26{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9}. Across the mainland capital cities, about one in four renters met the definition.
Regional renters faced an even higher rate, with 30{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} experiencing housing stress in 2024. The survey said that was nearly double the regional rate before the pandemic.
The pressures on housing are also being reflected in efforts to expand rental supply. Australia By Aussie previously reported on 220 new build-to-rent homes planned for essential workers in Sydney’s Inner West, with the project expected to provide discounted rental housing when completed.
The HILDA findings also show that employment outcomes have not improved equally across the population. Among men aged 25 to 44 who had not completed year 12, the full-time employment rate fell from 70{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} in 2001 to 63{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} in 2024, while the share outside the labour force increased from 12{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9} to 22{0931a9b6576c5d87fe846c236d3725957ace4ff7894c2ecd00b9029ccfe6a5f9}.
Together, the findings provide a snapshot of how housing costs, income and employment are affecting Australian households, particularly younger adults and lower-income renters.
