This study examines the living arrangements of never-married urban young adults in China and South Korea from 2003 to 2018. Using data from the Chinese General Social Survey and the Korean General Social Survey, we investigate the relationship between socioeconomic status and young adults’ living arrangements. Our findings show that a majority of Korean young adults lived with their parents during the observed time period, while Chinese young adults experienced large shifts in their living arrangements. Findings from weighted logistic models demonstrate that employed or high-income young adults were more likely to leave the parental home than those who were not working, suggesting the important role of economic security in independent living. Highly educated young adults in China tended to have residential independence, while education was not significantly associated with Korean young adults’ living arrangements. Korean young adults with highly educated fathers were more likely to stay with parents. The interconnection between family socioeconomic characteristics at the micro level and variations in opportunity structures at the macro level results in country-specific patterns of living arrangements.