Why Multi-Generational Homebuying Is Growing

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Multi-Generational Living Is On the Rise

More families are choosing to live together under one roof. According to the National Association of Realtors (NAR), 17% of recent homebuyers purchased a home to share with parents, adult children, or extended family. That’s the highest percentage NAR has ever recorded.

Affordability Is the Top Reason

In the past, caregiving—especially for aging parents—was the main reason behind multi-generational living. While that’s still important, affordability has now become the #1 motivator.

In 2024, 36% of homebuyers said “cost savings” was their primary reason for choosing this setup, up from just 15% in 2015. This shift reflects today’s high housing prices and mortgage rates, which have made it harder for many to buy on their own.

Pooling Resources Makes Buying a Home More Possible

With current market conditions, teaming up with family can make all the difference. By combining incomes and sharing expenses like the mortgage, utilities, and other costs, families can overcome common affordability challenges.

Rick Sharga, CEO of CJ Patrick Company, explains:

“There are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”

More Space, Shared Responsibility

This strategy doesn’t just make homeownership possible—it can also help families afford larger homes with more space and comfort for everyone.

As Chris Berk, VP at Veterans United, notes:

“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.”

Nearly 28% of homebuyers say they’re considering a multi-generational purchase—so this isn’t just an idea, it’s a growing movement.

Bottom Line

If your budget feels tight, buying a home with family could be a smart and flexible solution. It stretches your buying power and gives you the chance to build something meaningful—together.

Would you ever consider buying a home with a family member? Why or why not?

Connect with me at 917-254-2103. My goal is to help you accomplish yours!