More Americans Are Buying Homes That Can Accommodate Multiple Generations

At a Glance:

• In 2026, 14% of home buyers chose multigenerational homes.¹
• In 2024, 4.5% of owner-occupied households in the U.S., nearly 4 million, were multigenerational.²
• Saving money is the primary reason for 36% of buyers, followed by caring for aging relatives at 25%.³
• Multigenerational home purchases often involve unique financing strategies and legal considerations.

An increasing number of Americans are exploring multigenerational living arrangements, where multiple generations share a single household. Through the first five months of 2026, 14% of home buyers chose homes designed to accommodate extended families, reflecting changing financial priorities and lifestyle needs.⁴

In this edition of the Mortgage Monitor, we examine the factors contributing to this trend and outline key considerations for families exploring multigenerational homeownership.

Under The Same Roof

A multigenerational owner-occupied household typically includes three or more generations living together, such as adult children, parents, and grandparents. These arrangements can also include extended family members like siblings or relatives who share financial and caregiving responsibilities.

In 2024, approximately 4.5% of owner-occupied households in the U.S., which amounts to nearly 4 million homes, were multigenerational.⁵ This represents an increase from 4.3% in 2019.⁶ This gradual increase highlights how families are adapting to evolving economic conditions and caregiving needs.

Saving money remains a primary motivator, cited by 36% of buyers who purchase multigenerational homes. Another 25% point to the need to care for aging relatives.⁷ These households often benefit from shared expenses and coordinated daily responsibilities, which can help ease financial pressures.

“Multigenerational living continues to gain traction as families look for practical ways to manage both housing costs and caregiving responsibilities,” said Brett Hively, Senior Vice President, Mortgage Capital Markets and Financial Strategist at Ameris Bank. “These arrangements can offer flexibility while allowing households to consolidate financial resources.”

Approaches to Multigenerational Buying 

Purchasing a home with multiple family members can expand buying power, but it also introduces additional considerations around financing structure.

In many cases, family members may apply for a mortgage as co-borrowers. Co-borrowers are listed on the loan, hold ownership rights through the title, and share in both the financial responsibility and equity of the home.

Alternatively, some buyers may involve a co-signer. A co-signer supports the loan application by providing additional financial strength but is not listed on the title and does not have ownership rights unless otherwise specified. Their role is typically limited to helping the primary borrowers qualify for financing.

“When multiple borrowers are involved, lenders consider the overall financial profile of the applicants,” Hively said. “A range of financial factors may influence the loan decision and financing terms.”

Being aware of these considerations may be helpful during the application process.

Planning for Shared Ownership 

While multigenerational homeownership can provide financial and lifestyle benefits, it also requires clear planning and communication among all parties involved.

Differences in long-term goals—such as whether to sell the home or continue shared ownership—can create challenges if expectations are not defined early. Similarly, unexpected financial changes, such as job loss, may impact one or more parties’ ability to contribute to shared expenses.

Prospective multigenerational homeowners may benefit from consulting a real estate attorney to establish a co-ownership agreement. These agreements can outline ownership structure, financial responsibilities, and potential exit strategies, helping to prevent misunderstandings over time.

Sources:
^{1, 4} https://www.realtor.com/research/multigeneration-2026/
^{2, 5, 6} https://finance.yahoo.com/economy/articles/more-americans-live-family-housing-152132956.html
^{3, 7} https://www.empower.com/the-currency/life/multigenerational-living-is-on-the-rise-news


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank does not endorse nor is affiliated with the companies listed in this article.