Lately, we’ve been seeing more and more buyers exploring multi-generational living, and it’s not just a passing trend. According to the National Association of Realtors (NAR), a record-breaking 17% of homebuyers are purchasing homes with the intention of living with parents, adult children, or extended family. That’s the highest share NAR has ever reported.
So, what’s behind the shift?
In short: affordability.
While caregiving and family closeness have long been motivating factors (and still are), rising home prices and mortgage rates have made cost-sharing more attractive than ever. In fact, in 2024, 36% of buyers who chose multi-generational homes said saving money was their #1 reason—up from just 15% back in 2015.
Why Multi-Generational Living Makes Sense Right Now
With prices high and housing inventory still tight in many areas, teaming up with family can open doors…literally. By combining incomes and splitting expenses like the mortgage, utilities, and maintenance, families are making homeownership more achievable.
And beyond just making it work financially, this approach can also mean qualifying for a larger home with more space for everyone, something many buyers are struggling to do on their own right now.
As Rick Sharga, CEO of CJ Patrick Company, put it:
“There are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”
And Chris Birk from Veterans United added:
“Multigenerational homes are more than a trend—they’re a meaningful solution for families looking to care for one another while maximizing their buying power.”
Is a Multi-Generational Home Right for You?
If your budget feels tight, or you’re looking to create a more supportive living situation for loved ones, it could be worth considering. Nearly 30% of buyers say they’re thinking about going this route.
It’s not for everyone, but when it works, it can be a great solution…especially in a market like this.
Let’s Talk About Your Options
Thinking about teaming up with family to buy a home? Wondering if it’s a smart move for your situation?
Let’s connect and talk it through. We’re happy to help you explore what’s possible.
