Families combat rising costs by living under one roof, study shows

Over half of Americans share their roofs with multiple generations, and the majority are rooming with family members to combat rising expenses, according to a new study by Lombardo Homes.

Last month, the survey asked 1,001 Americans for feedback on living in multigenerational homes.

The respondents were 48% female, 49% male, and 3% nonbinary, with an age range of 18 to 80. The average age was 39.

More than half of those surveyed currently live in a multigenerational home, the survey said. The majority (61%) of those were ages 44-59 (Gen X). Following with 59% was Gen Z (ages 18-27).

Almost all respondents (95%) said their multigenerational households function successfully.

“The common reasons for living in a multigenerational home include finances (65%), maintaining close family ties (39%), help with shared responsibilities (28%), a need for eldercare (23%), and a desire for companionship (22%),” the study said.

While rising costs are the main reason these families live together, 82% said the living arrangement has improved finances for at least one family member.

Herausforderungen

Some family members have felt a lack of privacy or difficulties establishing boundaries and expectations while sharing a home. Some said a barrier is the home itself.

“A home may not have enough space to address the needs of several adults in one home,” the study said.

Of the Americans who do not currently live in a multigenerational home, 31% said they are considering moving. The majority said the reason was financial, while more than half said the need for elder care.

Generational differences

Nearly all respondents say it’s important to consider generational differences, such as lifestyles and values when planning a multigenerational home, the study said.

“Different age groups may have difficulty adjusting to this lifestyle change, with 45% of respondents believing young adults (ages 18-34) and 25% saying middle-aged adults (35-54) as the groups who would struggle the most,” the study said.

Most of the respondents agreed that generational living is becoming more common.

“As economic pressures continue to rise, multigenerational households are likely to become an even more practical solution for many American families,” the study said.