Multi-Gen Housing: Everything Old is New Again - Arizona REALTOR® Voice

One of the earliest multigenerational homes in the U.S. was reported in 1895.¹ Fifty years later, nearly one-in-four Americans lived in one. According to the Pew Research Center, some 57 million people live in multigenerational households today. That’s about 18% of the population now…and it’s growing.

Pew recently reported that “the increase in [the multi-gen] living arrangement in recent years has largely been driven by young adults, ages 25 to 34” who live with parents and/or grandparents.

The 2015 State of Hispanic Homeownership Report, produced in collaboration with the National Association of Hispanic Real Estate Professionals, finds that “Hispanic Millennials are more likely to be multigenerational, suggesting increased demand for homes that accommodate larger households.”

When you compare Multigenerational Housing Buyers² to Rocky Mountain Region XI Buyers³,
there are many similarities:

Median Age: 49

Median Income (+/-$5.5K)

Previous Homeowner (+/-3%)

Single-family Homebuyer (+/-3%)

Desire to own a Home (+/-1%)

So, all Arizona REALTORS® have to do is find and sell multi-gen homes, right? It’s not that easy.

In some areas, accessory dwelling units (ADUs) must be zoned or property owners must obtain a variance – usually due to health and safety standards, or to maintain the neighborhood’s characteristics.

The Wall Street Journal reports that the City of Glendale requires Lennar’s Next Gen® homes to have a single-entry door to blend in with the rest of the neighborhood. A small concession perhaps, but a private entrance can be as important as having one’s own kitchen.

In the West Valley, Maracay Homes designs generational suites with or without kitchenettes, while Lennar offers an optional gourmet kitchenette with stainless steel appliances, 42” cabinets and granite countertops.

New construction aside, there are existing homes that make ideal ADUs too. “I get an inquiry at least twice a week from buyers looking to do some sort of multi-gen housing,” said Kelly Cook with Keller Williams Arizona Realty. Solutions can range from conjoined multi-family units to great room and garage conversions.

Are multigenerational homes worth listing? Definitely. The multi-gen population between 1980 and 2012 doubled and continues to rise as more Millennials share homes with The Greatest Generation as tenants, landlords and co-owners.

¹Under One Roof: The Return of Multigenerational Homes – HGTV.com