Even with more homes on the market right now, some buyers are still having a tough time finding the right one at the right price. Maybe the layout feels off. Maybe it still needs some updating. Or
Multi-Generational Homebuying Hit a Record High – Here’s Why
Dated: June 30 2025
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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):
And what’s behind the increase? Affordability. NAR explains:
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.
In the past, caregiving was the leading motivator – especially for those looking to support aging parents. And while that’s still important, affordability is now the #1 motivator. And with current market conditions, that’s not really a surprise.
Pooling Resources Can Help Make Homeownership Possible
With today’s home prices and mortgage rates, it can be hard for people to afford a home on their own. That’s why more families are teaming up and pooling their resources.
By combining incomes and sharing expenses like the mortgage, utility bills, and more, multi-generational living offers a way to overcome financial challenges that might otherwise put homeownership out of reach. As Rick Sharga, Founder and CEO at CJ Patrick Company, explains:
There are a few ways to improve affordability, at least marginally. . . 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.
But this strategy doesn’t just help with affordability. It may even allow you to get a larger home than you’d qualify for on your own and that gives everyone a bit more breathing room. As Chris Berk, VP of Mortgage Insights at Veterans United, explains:
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 momentum may be growing. Nearly 3 in 10 (28%) of homebuyers say they’re planning to purchase a multi-generational home.
Maybe it’s a solution that would make sense for you too. The best way to find out? Talk to a local real estate agent who can help you decide if this option would work for you.
Bottom Line
If your budget feels tight, buying a multi-generational home could be a smart solution.
Would you ever consider buying a home with a family member? Why or why not?
Let’s connect to talk through your options.
Monica Hanscom
With 8 years of experience and a lifelong connection to the Jersey Shore, Monica Hanscom brings a deep understanding of the local market to every transaction. Her passion for real estate began while w....
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