One in five Latvians aged 18–39 still lives with family

Nearly half of residents in Latvia aged 18 to 39 live in a home they own, while almost one in four lives in rented housing, a survey shows. Another 20% of young adults still live with their parents or other relatives.

For those who remain with family, insufficient income is the main obstacle to living independently, named by nearly half of respondents. About a third cite high rents. Some lack money for a first down payment, while others are still saving toward a home of their own.

Kaspars Sausais, head of housing lending at Luminor bank, said living with relatives is most often a temporary arrangement, although one in five people surveyed said they currently find it comfortable to live with family. He said young people most often leave the family home by the age of 29, which matches bank data showing that a first housing loan is more often taken by people aged 26 to 39. Both renting and buying can fit a person’s finances and plans, he said, and in some cases the monthly loan payment on a series-built apartment can equal or even fall below the rent for a similar home. If owning a home is a long-term goal, he said, saving for the down payment is worth starting early.

The share living in their own home rises sharply with age. About a quarter of 18- to 29-year-olds live in property they own, compared with more than half of those aged 30 to 39.

Young adults in Latvia start independent life later than in Lithuania and Estonia. One in five people aged 18 to 39 in Latvia lives with parents or other relatives, against 18% in Lithuania and 14% in Estonia. Fewer young people in Latvia also live in their own home than in the neighbouring countries. Eurostat data show that young people in Latvia leave the parental home at an average age of 26, compared with 23 in Estonia and Lithuania.