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Number of multi-generational households hit all-time high

Number of Multi-generational Households Hit All-time High

 

 

 

 

 

 

 

 

Photo Courtesy of Wolfgang Wiggers

 

The share of Americans living in multi-generational households, homes with two or more adult generations, hit an all-time high in 2016, according to a new analysis of U.S. Census Bureau data from the Pew Research Center.

In 2016, the number of multi-generational households increased to 20% of the U.S. population, or 64 million people, an all-time high.

While some demographics are more likely than others to live in multi-generational households, the trend is growing in nearly all racial groups, most age groups and both men and women, according to the Pew Research Center.

In 2009, about 51.5 million Americans, or 17% of the population lived in multigen households, which rose to 60.6 million, or 19% of the population in 2014.

HousingWire takes a deep dive into multi-generational living in the February magazine, explaining what the growing trend means for the housing industry.

The analysis shows that part of the increase can be attributed to a rise in Asian and Hispanic populations in the U.S., which are more likely to live in multigen households than white households.

About 29% of Asians lived in multi-generational households in 2016, compared to about 27% of Hispanics, 26% of Blacks and 16% of whites.

Millennials were the most popular age group to live in multigen households as 33% of those ages 25 to 29 lived with their parents. Back in 2014, those ages 18 to 34 living with their parents surpassed other living arrangements for the first time in 130 years.

But before all the older generations start knocking Millennials, take note that a full 24% of those ages 55 to 64 are living with their children, and 21% of those ages 65 and older are living with their children or adult grandchildren.

Women were slightly more likely to live in multi-generational households than men at 21% versus 19% respectively.

 

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

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