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National News: Multi-generational Living!

Did your kids move home after college? Do you have parents living with you? A new analysis from the Pew Research Center shows that households with two or more adult generations hit an all-time high in 2016, using the most recent census data available for the analysis.

The number of multi-generational households rose to an all-time high of 20%—or 64 million—of the U.S. population in 2016. The multi-generational household trend appears to be growing across nearly all racial and age groups, the Pew Research Center reports. A specific increase in Asian and Hispanic populations does make up a significant part of the boost—both ethnic groups are more likely to live in multi-generational households than white households. About 29 percent of Asians lived in a multi-generational household in 2016 compared to 27 percent of Hispanics, 26 percent of blacks, and 16 percent of whites.

Also, millennials are the most likely age group to live in a multi-generational household. 33% of those ages 25 to 29 live with their parents, according to Pew Research’s analysis. But a greater number of older adults are starting to live with their adult children too.22% percent of those aged 55 to 64 are living with their children, and 21% of those ages 65 and older are living with their children or adult grandchildren, according to the analysis.

Builders have been trying to prepare for the growth in multi-generational living, such as by introducing new floor plans that include mother-in-law suites, two main floor master bedrooms, or backyard cottages.

Source: “Number of Multigenerational Households Hit All-Time High,” HousingWire (April 9, 2018)

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