Kids aren’t moving out and their grandparents are living active lives longer, which are two of the primary reasons that multigenerational households—defined as three or more generations sharing a home—are growing in the U.S. The economy has taken its toll on everyone in different ways, and for millions of Americans, keeping generations of the family together under a single roof is a great solution. Grandparents are around to help watch little ones, and grown children save money by living in their parents’ basement or attic. According to census stats and an article from Bloomberg, these expanded living arrangements are more common now than in the early 1900s when it was part of our culture to keep family close.
U.S. Census Bureau figures released in August indicate that the increase in multigenerational households is due in part to larger numbers of Hispanic and Asian families, whose social paradigms dictate caring for extended family. Nearly 5.1 million multigenerational households existed in 2010, which is 30 percent higher than a decade earlier. Mostly occurring on the outskirts of large cities, these extended-family living arrangements commonly are taking place in suburban, single-family homes at both ends of the economic spectrum—those who need relief from financial pressures and those who have more than enough room for everyone. The entire Bloomberg article can be read here.
