How long do parakeets live? Parakeet lifespan is about 12 years when they are in captivity. The lifespan will depend on several factors. For example, taking good care of your pet will prolong its lifespan. There are several types of Parakeets, and they have different lifespans. To know the average years your bird will live it is necessary to check out the type and other factors that can contribute to good health. Feed your bird well and you will improve its lifespan drastically. People looking forward to making their pet birds stay long are quick to seek veterinary services if they notice the bird is not eating.