Why More Families Are Buying Multi-Generational Homes Than Ever Before

More and more families are choosing to live under one roof. In fact, according to the National Association of Realtors (NAR), 17% of recent homebuyers purchased a home to share with multiple generations—whether that’s parents, adult children, or extended family members. That’s the highest percentage ever recorded. So, what’s fueling this shift?  

It Comes Down to Cost

While caregiving used to be the top reason families bought multigenerational homes, affordability is now leading the way. NAR reports that in 2024, 36% of buyers cited cost savings as their main reason for going multi-gen, up from just 15% in 2015. With home prices and mortgage rates still putting pressure on budgets, teaming up with family is becoming a smart way to make homeownership work.  

Sharing Costs, Gaining Space

Pooling financial resources can make a huge difference. By sharing the mortgage, utilities, and other household expenses, families can often buy a home they wouldn’t be able to afford individually. As Rick Sharga, CEO of CJ Patrick Company, puts it: “There are a growing number of multigenerational households across the country today, and affordability is one of the reasons for this.”

And there’s another perk—more space. Combining incomes can help you qualify for a larger home, which means everyone has more room and privacy, too. Chris Birk of Veterans United adds: “Multigenerational homes are more than a trend: They are a meaningful solution for families looking to care for one another while making the most of their homebuying power.” And this solution is gaining traction. Nearly 3 in 10 buyers are planning to purchase a multi-gen home.  

Could This Be a Smart Move for You?

If you're feeling stretched financially or looking for ways to support family while building equity, a multi-generational home could be a great option. The best way to figure it out? Talk to a local real estate expert who can walk you through what’s possible based on your goals and budget.  

Bottom Line:

If you're exploring ways to make homeownership work in today’s market, a multi-generational setup might just be the answer. Ready to talk it through? Let’s connect.