A recently released Census Report focuses on the rise of multi-generational households and the effect on the housing industry. The 2009 – 2011 American Community Survey (ACS) reported that 4.3 million households were multi-generational. This number represents 5.6% of the total of 76.4 million family households with more than one generation. This new information presents a significant increase in the share of multi-generational households from 3.7% of total family households in 2000 to 4.0% of total family households in 2010. As you can see, this data shows a very large increase in multi-generational households.
Now, the million dollar question is “How will this trend effect housing needs?”