Multi-generational living is on the rise across the U.S. In fact, 17% of homebuyers are now purchasing homes to share with parents, adult children, or extended family—the highest percentage ever recorded by the National Association of Realtors (NAR). Here in North County, San Diego, this trend is reflected in growing demand for flexible floor plans and homes that accommodate extended family living. (see graph below):

And what’s behind the increase? Affordability. NAR explains:

“In 2024, a notable 36% of homebuyers cited “cost savings” as the primary reason for purchasing a multigenerational home—a significant increase from just 15% in 2015.”

In the past, caregiving was the leading motivator – especially for those looking to support aging parents. And while that’s still important, affordability is now the #1 motivator. And with current market conditions, that’s not really a surprise.

Pooling Resources Can Help Make Homeownership Possible

With today’s home prices and mortgage rates, affording a home on your own can be challenging. That’s why more families—especially in areas like North County, San Diego—are teaming up and pooling their resources to buy a home together.

By combining incomes and sharing expenses like the mortgage, utility bills, and more, multi-generational living offers a way to overcome financial challenges that might otherwise put homeownership out of reach. As Rick Sharga, Founder and CEO at CJ Patrick Company, explains:

“There are a few ways to improve affordability, at least marginally. . . purchase a property with a family member — there are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”

But this strategy doesn’t just help with affordability. It may even allow you to get a larger home than you’d qualify for on your own and that gives everyone a bit more breathing room. As Chris Berk, VP of Mortgage Insights at Veterans United, explains:

“Multigenerational homes are more than a trend: They are a meaningful solution for families looking to care for one another while making the most of their homebuying power.”

And momentum may be growing. Nearly 3 in 10 (28%) of homebuyers say they’re planning to purchase a multi-generational home.

Maybe it’s a solution that would make sense for you too. The best way to find out? Connect with us at Shafran Realty Group—we’re the local real estate experts here in North County, San Diego. Our experienced agents can help you decide if multi-generational living is the right move for your family.

Bottom Line

If your budget feels tight, buying a multi-generational home could be a smart solution—especially in today’s market. Would you ever consider purchasing a home with a family member? Why or why not? Let’s connect and talk through your options. At Shafran Realty Group, we’re your local real estate experts in North County, San Diego, and we’re here to help you explore what works best for your situation.