Multi-Generational Living Is Not Only Common—It Is Increasingly Popular
By the end of 2020, one in three 18- to 34-year-olds were living with their parents, illustrating the statistical rise in multi-generational living over the past half-century. This trend has only been aided by remote work, the increased cost of living, as well as unemployment rates—the latter of which skyrocketed last year due to the COVID-19 pandemic. Per STORAGECafé, multi-gen living has risen from 27.3% in 2007 to 32.7% as of a report conducted in 2021.
Other findings include:
- Hawaii, California and Texas have the highest share of multi-gen households.
- There are approximately 4.7 million multi-generational households (with at least three generations) in the United States.
- California’s Oxnard-Thousand Oaks-Ventura metro area has the highest incidence of multi-gen living in the country among 18- to 34-year-olds, 50%; at the other end of the spectrum, Madison, Wisconsin, has the lowest rate of multi-gen living, at 18%.
Construction Executive, an award-winning magazine published by Associated Builders and Contractors, is the leading source for news, market developments and business issues impacting the construction industry. CE helps its more than 50,000 print readers understand and manage risk, technology, economics, legal challenges and more to run more profitable and productive businesses.