48.8% of households that were surveyed said home affordability and saving money were their main concern when choosing where and how to live.
The number of Americans living with multiple generations under one roof has quadrupled, according to the Pew Research Center. More than 59 million people live in multigenerational households, or homes that include two or more adult generations. Whether it's parents and adult children or a "skipped generation" consisting of grandparents and their grandchildren, these homes offer a unique dynamic that can be both rewarding and challenging. When asked about the familial makeup of the people in their home, respondents said parents and adult children were the most common familial roles represented. While many family members may take on the responsibility of multiple familial roles, everyone plays an important part in living communally. Of those surveyed, 60.9% identified their primary role as a parent or parental figure, and 35.6% identified as an adult child. Just 3.5% of those surveyed identified their main role as a grandparent or grandparental figure.
On average, multigenerational homes consist of about four people. Often, as many as four generations live together in one home. Many individuals surveyed have been living in multigenerational homes for a significant portion of their lives, with 31.7% of respondents reporting a lifelong experience in this type of living situation. It’s evident that multigenerational living is not limited to any particular age group but encompasses individuals from various stages of adulthood. Some 48.8% said home affordability and saving money were their main concern when choosing where and how to live. Roughly 31.2 % of those surveyed said they wanted to spend more time with family and an estimated 27.9% said providing care for older family members was a significant factor. Of the 48.8% who said financial reasons were the main reason for multigenerational living, housing costs were the predominant concern. Interestingly, only 5.2% of those surveyed cited reduced cost of older adult care as a primary factor and just 2.5% cited childcare as their main motivation (7.7% in total).