Families across the country are increasingly opting to live in multigenerational housing.
While some people are motivated to preserve cultural traditions or combat loneliness, others are driven by the desire to share or reduce expenses, particularly childcare costs, according to a National Association of Realtors report.
The number of Americans living in multigenerational family households is about four times larger than in the 1970s.
According to a Pew Research Center’s analysis of census data, the share of the U.S. population living in multigenerational homes has more than doubled over the past five decades. Nearly 60 million U.S. residents lived with multiple generations under one roof in March 2021, compared to 58.4 million in 2019.
In Colorado, about 3.7% of the population live in multigenerational households, based on 2020 Census data. This accounts for around 71,300 households in the state, marking a nearly 40% increase from 2010.
According to a Child Care Aware of America report, childcare costs in the United States now exceed the average rent payment in every state. The cost of having two kids in childcare exceeds the average rent by at least 25% nationally. In Colorado, the average annual price for two children in childcare is $33,382, compared to $25,308 in housing costs.
Pam Schock with 8z said the primary motivation driving interest in multigenerational housing in the Denver area is less about helping aging grandparents and more about helping parents cope with childcare costs.
“It’s gotten so expensive,” Schock said. “More grandparents are moving in so they can help with childcare.”
But finding housing that accommodates multigenerational families is challenging. Schock said most families want more than a guest room with an ensuite bath.
She said adding an additional dwelling unit in many Denver neighborhoods, like Washington Park or Platt Park, is difficult due to limited space.
That’s spurring more interest in suburban developments that feature new homes with separate apartments for grandparents. Developers like Toll Brothers, for example, are building multigenerational homes in Parker that “sell like hotcakes,” Schock said.
For many families, she added that selecting multi-gen housing makes sense for various reasons.
“Families are opting to buy together,” Schock said. “It’s a chance for younger families to get more space and an interesting way for older couples to downsize. They can put money into buying the house and not have as much maintenance.”
The news and editorial staffs of The Denver Post had no role in this post’s preparation.
