Multi-Generational Homebuying Hits a Record High – What It Means for Los Angeles and Beverly Hills Buyers

Multi-generational living is making headlines—and history. According to the latest data from the National Association of Realtors (NAR), a record-breaking 17% of all homebuyers in 2024 purchased homes intended for multi-generational living. This is the highest share ever recorded by NAR and reflects a growing trend nationwide.

But what’s fueling this shift? In a word: affordability.

Cost-Savings Drive the Trend—Even in High-End Markets Like Beverly Hills

In the past, the primary motivation for multi-generational home purchases was caregiving, particularly for aging parents. While that remains a strong reason, 36% of buyers in 2024 cited cost savings as their top reason for buying a multi-gen property—up from just 15% in 2015.

This trend is especially relevant in luxury markets like Los Angeles and Beverly Hills, where the cost of homeownership continues to climb. With median home prices often reaching into the millions and limited inventory in sought-after neighborhoods, families are pooling their resources to unlock access to prestigious addresses and larger homes.

Why It Makes Sense in Beverly Hills and Los Angeles

High-end real estate in neighborhoods like Beverly Hills, Bel Air, Brentwood, and the Hollywood Hills is ideal for multi-generational living. Many estates offer multiple wings, guest houses, dual primary suites, or private entrances—making it easier for families to live together while maintaining independence and privacy.

This isn’t just a strategy for financial flexibility; it’s also a way to preserve generational wealth, share responsibilities, and support loved ones while enjoying the elevated lifestyle that Los Angeles real estate provides.

The Financial Advantage: Combining Incomes, Increasing Buying Power

Given today’s mortgage rates and elevated home values, purchasing a home solo—especially in luxury markets—can be financially daunting. But by combining incomes, families can:

• Qualify for larger loan amounts

• Share mortgage payments, utility bills, and taxes

• Purchase larger properties in prime locations

• Enjoy greater space, comfort, and amenities

Rick Sharga, CEO of CJ Patrick Company, notes:

“There are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”

Chris Berk, VP of Mortgage Insights at Veterans United, adds:

“Multigenerational homes are more than a trend: They are a meaningful solution for families looking to care for one another while making the most of their homebuying power.”

The Trend Is Still Growing

Nearly 3 in 10 homebuyers say they’re considering a multi-generational home purchase. In Beverly Hills and surrounding areas, we’re seeing increasing demand for properties that offer separate guest houses, expansive layouts, and estate-style living—all ideal for extended families.

Whether you're looking to bring loved ones under one roof or simply make a smart financial move, multi-generational living could be the key to unlocking your dream home in Los Angeles’ most iconic neighborhoods.

Bottom Line

If you're feeling priced out of the current market—or want to explore more flexible, forward-thinking housing solutions—multi-generational homeownership may be your answer.

Would you consider buying a home with family in Beverly Hills or Los Angeles? Let’s explore what’s possible together.

Let’s connect and find a home that fits everyone’s needs—and exceeds every expectation