Why Multi-Generational Homes Are Becoming Increasingly Popular

Currently, 17% of homebuyers are opting for multi-generational homes—properties shared with parents, adult children, or even extended family members. What’s remarkable is that this figure represents the highest level ever recorded by the National Association of Realtors (NAR). But what’s fueling this growing trend in multi-generational living?

Key Benefits of Choosing a Multi-Generational Home

In the past, many homebuyers opted for multi-generational living to provide care for their parents. While this remains an important factor, another major driver has emerged: affordability.

Recent data from the National Association of Realtors (NAR) reveals that cost savings have become the leading reason families choose to live together.

With the rising costs of homeownership, it’s becoming increasingly difficult for many to afford a home independently. As a result, families are pooling their resources to make homeownership achievable. By combining incomes and sharing expenses—such as the mortgage, utilities, and more—multi-generational living provides a way to overcome financial barriers.

Rick Sharga, Founder and CEO of CJ Patrick Company, puts it this way:

“One way to make homeownership more affordable is by purchasing a property with a family member. Multi-generational households are on the rise across the country, and affordability is a significant reason for this trend.”

Beyond the financial perks, living under one roof can strengthen family bonds, offering more opportunities to connect and spend quality time together.

Bottom Line

If you’re thinking about making a move, exploring the option of a multi-generational home could be a smart decision—especially if your budget feels too tight to manage on your own. This type of living arrangement not only provides financial relief but also creates opportunities to share responsibilities and build stronger family connections.

To get started, reach out to a local real estate agent who can guide you through the process. They’ll help you understand your options, discuss your specific needs, and find a home that perfectly accommodates your family’s unique situation. With their expertise, you can navigate the housing market confidently and discover a property that meets both your financial and familial goals.