There are 4.6 million multi-generational households in the U.S. as of 2020, the highest number in 50 years.

StorageCafe, Santa Barbara, Calif., reported more than 4.6 million multi-generational households in the U.S. as of 2020, the highest number in 50 years—and not for the usual reasons. The report noted multi-generational living has historically been associated with necessity, and its affordability is still a key asset. But now, more than just providing a temporary solution to economic challenges, the multi-generational household has evolved into an arrangement that mutually benefits family members. ‘Boomerang kids’ are now joined by older millennials who increasingly consider staying with mom and pop, enjoying shared expenses and assistance with childcare. Additionally, the report said as work from home has become so widespread, keeping people away from regular face-to-face professional interaction, sharing space with family is often a viable alternative to spending most of the day alone. The report said more than half the country’s 18- to 24-year-olds live with parents. And 17% of 25- to 34-year-olds — which include most of the Millennial cohort — do too, more than twice the number that did so 50 years previously. They may be joined in multi-generational households by grandparents and children. Ashley Ermer, professor of Family Science and Human Development at Montclair State University, noted adults are marrying later. “It used to be the case where young adults would marry in their early 20s, which also meant they were leaving their parents’ home in many cases,” she said. “The average first age of marriage in the U.S. is approaching 28 for women and 30 for men. The economy is another reason. Those in their late 20s/early 30s were entering the workforce in large numbers around or slightly after the Great Recession.”

Source: StorageCafe