The traditional American household is shifting as more families choose to live under one roof to combat rising costs.
Multigenerational home purchase hit an all-time high last year, accounting for 17% of all home sales, according to a recent report from the National Association of Realtors.
The Financial Motivation
The primary driver behind the trend is simple: saving money.
In 2024, 36% of buyers cited cost savings as their main reason for a multigenerational purchase. This is more than double the 15% who cited savings in 2015.
Key factors contributing to the economic shift include:
- Boomerang kids: 21% of buyers moved in together because adult children moved back home.
- Never left: 20% of buyers said their adult children or relatives never left the home to begin with.
- Income pooling: Households with three or more income earners are becoming more common among buyers 45 and older.
For many of these families, the home itself becomes the financial foundation. Those who already own property are increasingly looking at what they have built in equity as a way to fund the additions, renovations or separate living spaces that make multigenerational living actually workable.
This post was originally published here
