The millennial generation has become famous for the way it turns heads and uproots traditional social and lifestyle dynamics. Millennials are often described as lazy and narcissistic, but this is a far cry from the truth. More accurately, they’re known for wanting increased work flexibility and having an open-minded attitude toward things like gay marriage and cohabitation. Case in point, their rates of cohabitation have increased dramatically over the past several years, as marriage rates meanwhile continue to fall.
While previous generations were more inclined to wait until marriage, or at least engagement, before moving in together, millennials are exploring a new tactic. In the face of skyrocketing divorce rates, many members of the new generation are now avoiding divorce — by not buying into marriage at all.
In this article, we’ll discuss the increase in cohabitation and decrease in marriage rates among millennials, along with examining the underlying reasons behind these phenomena.
Financial Motives
In surveys conducted by the Pew Research Center, it was found that nearly 40% of cohabiting couples cited convenience and finances as the main reasons for moving in together. That stands in stark contrast to the approximately 10% of married couples who feel the same.
So, what are the implications of these numbers? For starters, the increasing wealth gap in America is partially responsible. The average American millennial is saddled with student loan debt, relies on their parents for money, and is still reeling financially from the effects of the 2008 Great Recession and the overall high cost of living.
Additionally, many millennials have transitioned to online or remote work, some of them as freelancers. This makes long-term financial savings even more important (and difficult) when they’re presented with the prospect of saving for retirement when a 401k isn’t offered at work.
Therefore, some couples choose to live together before marriage as a way to save for bigger goals like homeownership, travel, or retirement. For other couples, marriage is out of the question until one or both parties are cleared of debt. Taking on the financial burdens of your partner is a big commitment for millennials and not one to be taken lightly. Cohabitation is also a way for couples to prepare financially for marriage and marry their spending styles before actually tying the knot.
Is Marriage Important?
For a growing number of millennials today, marriage doesn’t hold the same sacred connotations it once did in days gone by. In fact, according to statistics, over “half of Americans say that marriage is important but not critical,” while “30% say marriage is not important.”
Marriage is no longer something everyone must aspire to. As women gain more independence, societal obligations aren’t as stringent as before. Millennials are realizing there’s more to life than being married and having children, even if some of them still aim to reach those goals. Nowadays, many people prefer to first grow into themselves before making a life-long commitment, to achieve a deeper understanding of both themselves and their partners.
In addition, many couples interested in marriage pursue cohabitation as a first step. Increasingly wary of mixing love and finances, couples move more slowly now. As a result, a higher percentage of them live together and date longer before deciding to commit to marriage. With divorce rates on the rise, many partners are also eager to experiment with couples therapy, whether in-person or through relationship counseling apps, to reduce their risk of divorce in the eventuality of marriage.
All in all, millennials don’t give priority to marriage. They prefer to sort out their work-life balance and ensure their relationships are financially and emotionally stable before taking the
next step and marrying, if that’s what they decide to do.
A New Society
In today’s world, marriage as a social structure is being reevaluated. Only time will tell where cohabitation and marriage trends will lead as we construct a new society.
The Benefits of Marriage
When it comes to benefits like health insurance, tax benefits, and inheritance, cohabiting millennials don’t reap the same benefits as their married counterparts. Marriage confers a couple with legal rights that cohabitation does not, although an overwhelming majority of Americans support the idea that unmarried and married couples should have equal rights. Perhaps this will be the next step in changing marriage trends.
In a handful of states, however, common-law marriage still exists, meaning that couples who live together for a certain number of years are automatically considered married, without having registered their relationship as a marriage. However, this practice is falling by the wayside and is only present in seven U.S. states and the District of Columbia.
Patterns in Cohabitation
Cohabitation doesn’t always lead to a lasting long-term relationship or marriage, but cohabiting couples do tend to stay together longer now than in the past. Previously, cohabitation was brief, short-lived, and usually concluded in marriage.
Due to breakups and other reasons, many millennials also have the opportunity to live serially with multiple partners. This is due in part to the longer period between reaching adulthood and marrying, increased instability in living situations, and greater societal acceptance of pre-marriage cohabitation.
Final Thoughts on Millennial Cohabitation Trends
As the landscape of American society continues to evolve, lifestyle changes are inevitable. And the faster the country changes, the more adaptations new generations will have to make. Within today’s financial and social constraints, millennials have found themselves navigating dating and home life, while steering the ship in an entirely new direction.
