Beth Helvey June 30, 2025
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.
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.
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.
May 1st is the First Official Day of Turtle Nest Season
Seriously, Don't Skip It
Or to Start Your Income Property Journey?
Why You Shouldn’t Believe Every Headline (Or Chart) You See Online
Here’s How Thinking Like a First-Time Buyer Can Help
Cirque St. Armands Beachside has replaced Lido Key’s Holiday Inn—and it’s a major upgrade.
Here’s How To Use It
Trends in Sarasota and Manatee Counties
10 Small Fixes That Can Make or Break the Sale of Your Home
Factors That Can Affect Your Preapproval
It Is in Sarasota!
And How to Keep Yours on Track
You May Want to Find Out.
You May Decide to Move
Sarasota just witnessed an extraordinary rainfall event yesterday, one for the record books.
It’s probably part of why it fetched such a high price, setting a new record for tony Longboat Key.
Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now.
Hurricane season started in Florida a few days ago and runs through November.
I’d love to hear from you! Whether you’re buying, selling, or just exploring your options, I'm here to provide answers, insights, and the support you need. Contact me and start planning your next move.