As more Americans balance caregiving and financial pressures, a growing share of homebuyers are planning to live under one roof with extended family. A new survey by Veterans United Home Loans found that 28% of prospective buyers plan to purchase a multigenerational home—a notable rise reflecting both practical needs and shifting cultural norms.
The most common reason stated? Providing care for aging parents. Nearly one-third of respondents (29%) cited this as the top motivation. Others pointed to shared expenses (21%) or financial contributions from grandparents (27%) as key drivers.
“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,” said Chris Birk, VP of Mortgage Insight at Veterans United.
According to the National Association of Realtors (NAR), 17% of recent homebuyers in 2024 purchased multigenerational homes. Among them, 36% cited cost savings as the top reason, followed by caring for aging relatives (25%) and housing adult children returning home (21%).
Generational differences shape these decisions. Gen X leads the way, with 36% saying they plan to buy a home for multigenerational living, compared to 28% of millennials. Gen X and baby boomers are more likely to have adult children living with them, while Millennials and Gen Z are more likely to live with parents.
For Gen Z, financial support is a key motivator — 44% said that’s why they expect to live with family. Younger buyers are also more likely to have family living with them part-time (29% of Gen Z and 31% of Millennials).
About 30% of all respondents said they’ve always lived with family in some form, while one-third said multigenerational housing will help provide childcare. Cultural traditions are also a factor: 26% of Asian and Pacific Islander, 22% of Hispanic and Latino, and 22% of Black and African American buyers purchased multigenerational homes in 2024, according to NAR.
In a time of rising costs and family interdependence, multigenerational living is becoming a lasting solution for millions of American households.
