Spotlight on Young Adults in New York City: Economic experiences along the transition to adulthood
In recent years, the student debt crisis, stagnant wage growth, and the rising cost of living have drawn public attention to the economic circumstances of young adults in New York City and across the country. The defining characteristics of young adulthood have also shifted in recent decades. Young adults are less likely to marry and have children before age 30 compared to young adults of past generations. They are also less likely to live alone than they used to, opting instead to live with family members who may offer more support during this transitionary period. Many also prioritize schooling and finding work, investing in their future well-being in expanded ways. These pursuits, however, are not without obstacles; as young adults navigate a particularly uncertain and transitionary life stage, they exhibit higher poverty rates than any other age group. This report explores how young adults in New York City are faring, what factors may be compromising or bolstering their economic security, and the policy interventions that they could benefit from.
Key Findings:
The poverty rate of young adult New Yorkers (ages 18-30) was higher than the average adult in the city — 25% vs. 22% — and notably higher than adults ages 31-45 (15%).
The material hardship rate among young adult New Yorkers was also higher than the average adult in the city — 35% vs. 32% — though the hardship rate for adults ages 31-45 (36%) was similar to that of young adults.
While a majority of young adults are employed either full or part-time (63%), low earnings and underemployment may both contribute to the greater economic difficulty faced by young adults in the city. Young adults working full-time earned $30,000 less than full-time working adults ages 31-45 on average, and they were more likely to want to work more hours (43% vs 32%).
One in five young adult New Yorkers were students (20%), and poverty rates among young adults enrolled in school were much higher than those who were not (38% vs. 21%).
Almost half of young adults in the city lived with adult family members (48%), and only 15% lived without any other adults in their household. Young adults that lived with adult family were 8 percentage points less likely to be in poverty (26%) than those that lived without other adults (34%).
Suggested Citation
Koutavas, Anastasia, Sophie Collyer, Yajun Jia, and Christopher Wimer. 2024. Spotlight on Young Adults in New York City. Poverty Tracker Report. New York City: Robin Hood.
The Poverty Tracker is a longitudinal study of the dynamics of poverty and disadvantage in New York City. It is a joint project of Robin Hood and Columbia University.
