New multigenerational homes on the rise

New homes for multigenerational families are a category that increased by 30 percent from 2000 to 2010, according to the U.S. Census Bureau. 

November 22, 2011
multifamily housing, housing market, multigenerational home, home builder

New homes for multigenerational families are a category that increased by 30 percent from 2000 to 2010, according to the U.S. Census Bureau and reported by Bloomberg. KB Home, Lennar and PulteGroup Inc. are among the builders that offer models with second master bedrooms, kitchenettes and separate entrances.



Those features may help lure buyers at a time when new homes are selling at a record slow pace and more Americans are living with extended families, said Megan McGrath, a homebuilding-industry analyst with MKM Partners LP.



“When builders are still fighting for every sale, hitting on something that resonates with your local demographic can make a difference,” McGrath told Bloomberg.



The number of households comprising three generations rose to almost 5.1 million in 2010 from 3.9 million a decade earlier, according to the Census Bureau. An estimated 51 million Americans, or 16.7 percent of the population, lived in homes with at least two generations of adults in 2009, up from 42 million in 2000, the Pew Research Center said in an October report.



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