South Florida NPR affiliate, WLRN, is teaming up with FIU Caplin News, along with other local media outlets, to produce a series of stories that put a spotlight on South Florida’s housing crisis. Readers can find all the stories here.
Florida’s cost of living hit record highs in 2024, and young adults are feeling it the most. Rent keeps going up, wages aren’t keeping pace, and affordable options are hard to find. For many, living at home isn’t about a lack of ambition, it’s simply the only thing that makes financial sense.
For the average South Floridian, monthly expenses can add up fast—often totaling around $5,000 a month. Rent alone typically falls between $1,480 and $2,725, while food and groceries average about $395. Transportation costs can range from $759 to $1,411 depending on whether you have children, according to the website SoFi.
Health care adds roughly $750 per person, and child-related expenses can add another $702 to $1,364 each month, depending on age. Altogether, that comes out to about $60,204 a year just to cover basic living costs.
For people between 20 and 34, the average annual income usually sits somewhere between $40,000 and $59,000. With numbers like that, it’s easy to see why so many young adults decide that living at home isn’t just convenient, it’s the only financially realistic option.
For 26-year-old Vinicius Perez, this reality hits especially close to home. After moving to the U.S. from Venezuela in 2023, he has been living with his mom and brother in Kendall. To him, it is less like a preference and more like the only practical option.
The family previously lived in Coral Gables but moved to Kendall in the search of more space for an affordable price.
“The cost of living is so high that it’s complicated to live alone,” he said, explaining that even a small apartment in his area would run him “around $1,500 to $1,800,” a price that doesn’t include the stack of other monthly expenses.
To cope with the situation, Perez would often tighten his budget by ceasing to go out with friends and cutting some corners to save extra money.
But the pressure of having to pause his independence weighs on him heavily.
Perez cuts costs by getting around on an electric bike to help him save money. But, after finishing his shift as a cashier at a Subway in Coral Gables earlier this year, he was struck by a car. The driver was at fault, he says, but did not have good insurance. As a result, he did not receive a dime for the crash.
Then, he was fired from his job and lost all his savings.
He has found another, better job since then and is generally content with the situation.
“At least we can help each other out,” he says, referring to the way he helps support his household.
Entrepreneur living at home
Damian Hapke, a 25-year-old who lives at home with his mom, younger brother, and girlfriend. He is an entrepreneur who has his own insurance firm and uses staying home as a tool to cut the financial strain of rent to focus on his business.
Although he has a plan, like other young people, he struggles with the high cost of living.
“Independent living without your parents is difficult,” he said, adding that he often deals with “uncomfortable and awkward moments, mainly from the lack of privacy.”
Hapke explained he “doesn’t have the same freedom” living on his own. Still, he chooses to stay because it allows him to save money and “avoid unnecessary debt.”
Hapke says he copes with the pressure to move out—and the pressure to contribute at home by staying focused on his long-term goals. Learning to “adapt to the pressure and rules” has kept him motivated to get ahead financially.
Florida’s high cost of living puts a lot of pressure on its residents, especially young adults trying to become independent. But that pressure is also something many use as motivation to push forward in their careers and eventually move out. In the meantime, staying home isn’t always a real choice, it’s a necessity.
Said Perez: “At least we can help each other out,” referring to the way he supports his household.
