Survey: Young adults still living at home, plan to leave Long Island
A new survey from Long Island Index found that 41 percent of Long Island adults between the ages of 18 and 34 are still living at home.
According to the survey, a total of 59 percent of all adults and 71 percent of young adults said they are likely to leave Long Island in the next five years.
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Gwen O'Shea, president and CEO of the Community Development Corporation of Long Island, says the report "pulls back the curtain on the high cost of living on Long Island."
"We have seen over the past few decades an explosion in the cost of living on Long Island," says O'Shea. "Forty-five percent of Long Islanders who are working are unable to cover their basic expenses, and wages have really been stagnant."
O'Shea says part of the problem is exacerbated by a limited housing stock for young adults, which includes a lack of rentals.
"It presents a tremendous challenge for individuals who are now saddled with debt to think about and plan for living and creating a home on Long Island," she says.
Ally and Dylan McElroy, are both 25 and live in the basement of Ally’s parents' home in Bohemia. They say finding affordable housing has been a struggle – especially since they have two children.
They say if things don't change on Long Island, they will seriously consider moving to a more affordable area of the country.
“[We are] hoping that a few things will work out in our favor,” says Dylan. “Until then, I will continue to be grateful for the opportunity that we have.”