According to Census Bureau data, 4.4 million households had three generations or more under one roof in 2010. That is a 15 percent increase compared to two years prior.
The “double-up” phenomena is particularly pronounced among adult children, who are increasingly moving back with their parents after college to curb costs. The number of 25-to-34 year olds living with their parents jumped by more than 25 percent between 2001 and 2007, according to Census data.
The larger household sizes are causing builders to take notice and redesign floorplans to accommodate multi-generational households. Pulte Homes says it’s swapping out one of the garages in its two garage plans to allow for extra space in a home for a guest room. And Toll Brothers reports that it’s creating new floorplans to accommodate multiple generations, such as a guest suite with a kitchen added where a family room may have once been. Please provide your comments on your market trends.
Source: “The New American Household: 3 Generations, 1 Roof,” CNNMoney (4/3/12)