Multi-generational living is on the rise. According to the National Association of Realtors (NAR), 17% of homebuyers purchase a home to share with parents, adult children, or extended family. That’s the highest share ever recorded by NAR (see graph below):
What’s Driving the Shift? One Word: Affordability
In the past, caregiving was the top reason families chose to live together. But today? Cost savings is the #1 motivator. NAR reports:
“In 2024, a notable 36% of homebuyers cited ‘cost savings’ as the primary reason for purchasing a multigenerational home — a significant increase from just 15% in 2015.”
With home prices and mortgage rates stretching individual budgets thin, more families are choosing to join forces—not just to survive, but to thrive.
Pooling Resources = Expanded Buying Power
Owning a home in today’s market isn’t easy. But combining incomes and sharing expenses—from mortgage payments to utility bills—can make homeownership not only possible, but practical.
As Rick Sharga, CEO at CJ Patrick Company, explains:
“There are a few ways to improve affordability... 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.”
And it’s not just about cost-cutting—it’s about gaining more. More square footage. More flexibility. More room for privacy and togetherness.
Chris Berk, VP of Mortgage Insights at Veterans United, puts it like this:
“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.”
Is This Strategy Right for You?
According to the same data, nearly 3 in 10 homebuyers (28%) say they’re planning to buy a multi-generational home.
It may be time to ask yourself:
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Could sharing space lower my financial burden?
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Would a larger home shared with family give us all a better quality of life?
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Is caregiving, emotional support, or proximity to loved ones a priority for my next move?
Bottom Line
If your budget feels tight, multi-generational living could be your path to homeownership—without sacrificing comfort or connection.
Would you ever consider buying a home with a family member? Why or why not?
Let’s talk through what’s possible. A local agent can help you determine if this growing trend could be your next smart move.
