Thanks to “rental concessions,” Gen Z is moving out of mom and dad’s house. According to a Zillow report, 34% of 18-25-year-old renters who moved in the last year moved out of a relative or friend’s home—up 20% who reported the same in April. The number of young adults living with parents or grandparents dramatically rose in the spring, but began to fall in September. Fifty-seven percent of Gen Z renters reported finding a better deal on rent, with 49% citing that they were motivated to move because their new rental offered promotions or concessions such as a free month of rent, free parking, or a reduced security deposit. Rental concessions climbed from 16% to 30% between January to August. (PRNewswire, Globe St.)
