Why More Families Are Choosing Multi-Generational Homes

Today, more homebuyers than ever are opting for multi-generational living — when multiple generations of family members, like parents, adult children, or even extended relatives, live together under one roof. In fact, 17% of recent home purchases were for multi-generational homes, according to the National Association of Realtors (NAR) — the highest percentage on record.

So, what’s driving this trend? Let’s take a closer look.

The Growing Appeal of Multi-Generational Homes

Traditionally, families often chose multi-generational living arrangements to better care for aging parents. While that remains a common reason today, a new factor is driving the recent uptick: affordability.

With rising home prices and higher mortgage rates, buying a home has become more challenging for many. As a result, more families are teaming up financially to make homeownership more accessible. By combining incomes, they can share expenses like the mortgage, utilities, and maintenance costs — significantly easing the financial burden.

According to Rick Sharga, Founder and CEO of CJ Patrick Company:

“There are a few ways to improve affordability, at least marginally . . . purchase a property with a family member — there are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”

This strategy doesn’t just make homeownership more achievable — it can also allow families to consider larger homes with more space, which might have been out of reach if purchasing alone.

More Than Just Financial Savings

While the cost savings are a major draw, multi-generational living can also bring non-financial benefits. For many families, it provides an opportunity to strengthen relationships by spending more time together. Grandparents get to see grandchildren more often, and adult children can maintain close connections with their parents while contributing to household expenses.

Bottom Line

If you’ve been feeling stretched by today’s housing costs, exploring a multi-generational home might be a smart solution. Not only can it make homeownership more affordable, but it could also give you the space and connection you’ve been looking for.