The Rise of Multi-Generational Buying: What It Means for Today’s Market

More families are moving in together. NAR reports that 17% of homebuyers are now purchasing homes to share with parents, adult kids, or extended relatives — the highest level ever tracked (see chart below).

Affordability Is Driving the Rise in Multi-Generational Living

So, what’s fueling the surge in multi-generational homebuying? One word: affordability. According to the National Association of Realtors, 36% of buyers in 2024 cited cost savings as their main reason for purchasing a home to share with family; more than double the share from 2015, when it was just 15%. While caregiving used to be the top motivator, rising prices and interest rates have shifted the focus to financial practicality.

In today’s market, pooling resources is one of the smartest ways to make homeownership possible. By teaming up with parents, adult children, or extended family, buyers can combine incomes, split expenses, and increase their buying power. As Rick Sharga, CEO of CJ Patrick Company, puts it:

“One way to ease affordability challenges is to purchase a property with a family member. That’s why multi-generational households are becoming more common — affordability is a key driver.”

And it’s not just about saving money. Multi-gen living can also help families qualify for larger homes with more space — something everyone can appreciate. Chris Berk of Veterans United adds:

“Multigenerational homes aren’t just a trend. They’re a smart solution for families who want to care for each other and stretch their buying power.”

But this strategy doesn’t just help with affordability. It may even allow you to get a larger home than you’d qualify for on your own and that gives everyone a bit more breathing room. As Chris Berk, VP of Mortgage Insights at Veterans United, explains:

With 28% of future buyers planning to go this route, it’s a strategy that’s gaining momentum. If you’re curious whether a multi-generational setup could work for your situation, reach out — I’d be happy to help you explore the possibilities.

Bottom Line

If your budget feels stretched in today’s market, a multi-generational home might be the strategic move that helps make homeownership possible. By sharing costs and combining resources, it’s a way to navigate high prices without compromising on space or comfort.

Have you ever thought about buying a home with a family member? What would make that work — or not work — for you?

Let’s talk it through. Connecting with a local real estate expert can help you explore whether this option fits your needs and goals.