In Finland it is more common than ever for adult children to live at home with their parents. Today every fifth 18-29-year-old remains in the family home whereas three years ago only every tenth did so. Only one in twenty adult children pays any rent at all to their parents.
- Half of adult children live rent-free at home. The rest pay a small sum to their parents, but in practice the parents pay nearly all expenses, says Anu Numminen, Nordea’s Private Economist.
However, young women are more inclined to pay rent to their parents. The study commissioned by Nordea also shows that it is more common for adult children with jobs to pay rent.
The majority think living at home should not cost anything
One young person in four thinks living at home should be rent-free. More than a third of the respondents found the question difficult to answer.
The youngest respondents in particular, ie 18-21-year-olds, and those living rent-free with their parents think living at home should be free of charge. This was also the particular view of young women, students and those adult children who neither study nor work at present.
The over-22-year-olds, those who work and those who already pay rent supported the idea. More than four out of ten were in favour of paying rent to their parents.
- If a young adult living at home has a full-time job and earns money, the parents could ask him or her to pay a share of the household expenses. Another interesting alternative is to agree that young adults should save a sizeable portion of what they earn, ie, an amount equal to rent and food expenses, either for future studies or an apartment, says Anu Numminen.
Synovate carried out this study at the beginning of August. A total of 4,047 persons aged 18-29 were interviewed in Finland, Sweden, Norway and Denmark; in Finland the number of interviews was 1,000.
For further information:
Anu Numminen, Private Economist, +358 9 165 88218
Anni Kuusisto, Group Identity & Communications, +358 9 165 42653