Buyers of Multi-Generational Housing
2017 Profile of Home Buyers and Sellers
Median Age: 53
Median Income: $91,000
30% are first-time buyers
82% are buyers of previously owned homes
84% bought through an agent/broker
Median square feet of home purchased: 2,100
Median home price: $250,000
Reasons for purchasingmulti-generational home:
Aging family members: 33%
Young adults over age 18: 31%
13%
of all respondents
Type of HomePurchased
Detached single-family, 83%Townhouse/rowhouse, 6%Duplex/apartment/condo, 3%Other, 7%
26%13%10%9%
Desire to own a home ofownDesire for larger homeDesire to be closer tofriends/family/relativesChange in family situation(e.g. marriage, birth of child,divorce, etc.)0%10%20%30%
Reasons to Purchase Home
Unique to these buyers:
49%owned theirprevious home55% found thequality of theneighborhood tobe important66% weremarried couples,and 16% weresingle females51% werelocated in asuburb/subdivision
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