American millennials aren’t in the best financial shape.

Take a look at the Bay Area: 20.7% of San Francisco metro area residents and 21.2% of San Jose metro area residents ages 23 to 37 lived with their parents in 2017, reported Karen D’Souza for local publication Marin Independent Journal, citing a Zillow analysis of US Census data. That rate has risen by 65% in San Francisco and 56% in San Jose in the past 12 years, she wrote.

Millennials are known to leave the nest later in life than previous generations did: Zillow estimates that 21.9% of the nationwide cohort are living at home – a significant jump from the 11.7% living at home 12 years ago. Living at home gives millennials the chance to catch up in a time when fallout from the recession and high housing costs have created an expensive climate that’s difficult to save in.

Rising housing costs are just one of the many problems contributing to millennials’ money issues. To buy a typical San Francisco home with a 20% down payment, residents need to earn $303,000. It takes more than six years for the median US worker to earn that much.

San Francisco's housing market is so dire that, in a 2018 survey from the Bay Area Council advocacy group, nearly half of its residents said that they planned to move away soon.

Read more: 13 mind-blowing facts that show just how expensive San Francisco really is

But housing is just one of four key costs plaguing millennials - they're also burdened with student loan debt, rising healthcare fees, and pricey childcare.

One way they're dealing with these costs is by abandoning cities where the cost of living is highest. And San Francisco isn't the only city where soaring expenses are driving residents away. New York is the top state rich millennials are moving away from, according to a new SmartAsset study - and it's likely in part because of New York City's high housing prices. Even wealthy bankers are fleeing the city in search of more affordable housing, John Aidan Byrne of the New York Post reported.