The average American household is expanding.
For the first time in nearly 170 years, the average size of households nationwide is on the rise, according to the Census Bureau.
The emergence of multi-generational families is becoming more common. Today, around 20 percent of households are multigenerational, made up of family members of all ages. This is up by 12 percent compared to the 1980s.
In 2019, the population within a household grew, nearly reaching three people per home.
Extra adults living together can be parents, children or a roommate. These diverse households make up about 20 percent of living arrangements across the nation, a 3 percent increase from 2007.
If you reside in the Seattle/Renton/Tacoma areas, you may have experience with growing households. Today, you may be ready for a change, as well.
Whether you’re thinking about buying a home for the first time, or your family is growing, and you just need the extra space, Element Mortgage is prepared to assist you.
We understand the market is competitive and can be intimidating. Our dynamic mortgage programs, excellent customer service and an in-depth understanding of this market will give you the confidence to tackle the market head-on so you can reach your goals.