Buyers are Split on Multigenerational Homes

Filed in Economics, Trends by on April 9, 2021 0 Comments

When it comes to the desire for a home designed to house the buyer as well as a younger generation and an older generation, home buyers are split down the middle.

According to What Home Buyers Want, 2021 Edition, 39% would prefer such a home, but 39% would be against it. The remaining 23% are not sure how they feel about a home designed for three generations.

One of the factors most likely to influence a buyer’s preference for a multigenerational home is race/ethnicity. Among Hispanic buyers, for example, 53% are in favor of buying such a home, compared to 27% who would oppose it. Among African-American and Asian buyers, 50% and 46%, respectively, would prefer a multigenerational home, significantly higher shares than the 30% and 29% who would be against the idea, respectively.

In contrast, among Caucasian buyers, only 35% of buyers would prefer a home designed for multiple generations, compared to a larger 42% who would not prefer that option.

Rose Quint, NAHB assistant vice president of survey research, provides more analysis in this Eye on Housing blog post.

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