Why Multi-Generational Homes Are in Demand in Philadelphia and South Jersey

That spare bedroom on the main floor. The finished basement with a kitchenette and private entrance. The bonus room you've been using for storage.

To you, it may simply be extra space. But for today’s homebuyers in Philadelphia and South Jersey, those features could make your property stand out from the competition.

Multi-generational homebuying is on the rise—and homes designed to accommodate multiple generations are becoming increasingly attractive to buyers.

Millions of Families Are Living Multi-Generationally

A multi-generational household generally means three or more generations living under the same roof. According to Realtor.com, the number of these households in the U.S. grew from approximately 3.2 million to nearly 4 million between 2014 and 2024.

That trend is important for homeowners considering selling a Philadelphia or South Jersey home.

More families are looking for homes that can accommodate parents, adult children, grandparents, or other family members while still providing everyone with a degree of privacy and independence.

And in a competitive housing market, a home that can serve multiple purposes may have an advantage.

What Philadelphia and South Jersey Buyers Are Looking For

Across the Philadelphia region and throughout South Jersey, buyers may be searching for homes that offer more than traditional bedrooms and bathrooms.

Features that can appeal to multi-generational homebuyers include:

• First-floor bedrooms and full bathrooms
• Finished basements
• In-law suites
• Separate entrances
• Second kitchens or kitchenettes
• Additional living rooms or family rooms
• Bonus rooms that can function as bedrooms, offices, or private living spaces
• Attached or detached guest accommodations
• Flexible floor plans with space for extended family

For homeowners in Philadelphia, Cherry Hill, Haddonfield, Voorhees, Mount Laurel, Medford, Marlton, and surrounding South Jersey communities, these features can help position a property for buyers who need flexibility.

The key is making sure your real estate agent knows how to highlight those features in your listing.

Multi-Generational Homes Can Sell at a Premium

The additional flexibility can also translate into greater value.

According to Realtor.com, the median asking price for a multi-generational home in 2025 was approximately $709,000—about 65% higher than the $429,900 median asking price for a standard home.

Even when comparing homes with similar square footage, multi-generational properties commanded a premium, at approximately $262 per square foot compared with $215 per square foot for standard homes.

That represents roughly a 22% premium.

Of course, home values vary significantly by location, condition, size, and features. A home in Philadelphia will have different market dynamics than a property in South Jersey. But the broader takeaway is important:

Specialized features can create additional appeal when they match what local buyers are searching for.

Your Finished Basement Could Be More Valuable Than You Think

Consider that finished basement you've been treating as extra storage or a recreation area.

If it has a kitchenette, full bathroom, bedroom, living area, or separate entrance, it could potentially appeal to buyers looking for a more flexible multi-generational home in South Jersey or Philadelphia.

The same is true for a first-floor bedroom suite or an additional living area.

Instead of simply listing these spaces as "finished basement" or "bonus room," your real estate agent can help explain how the space could be used.

That can help buyers envision how the home could work for their own family.

Buyers Are Actively Looking for Flexible Homes

Higher prices aren't necessarily stopping buyers from considering these properties.

Realtor.com reported that multi-generational homes received 13.5% more online views than standard homes and sold in approximately 59 days—about the same amount of time as standard homes.

That suggests buyers aren't just noticing these homes. They're actively looking at them.

For sellers, that's an important distinction.

A multi-generational home for sale in Philadelphia or South Jersey may appeal to a particularly motivated segment of the market because buyers who need multiple living spaces can have fewer suitable properties to choose from.

Is Your Home a Multi-Generational Property?

Your home doesn't necessarily need a formal in-law suite to appeal to multi-generational buyers.

Maybe you have:

• A Cape Cod with a first-floor bedroom and bathroom
• A South Jersey colonial with a finished basement
• A Philadelphia-area home with a separate entrance
• A property with a second kitchen
• A home with enough bedrooms for multiple generations
• A finished attic or bonus room that could provide additional living space

These features can give buyers more options—and flexibility is increasingly valuable for families trying to make the most of their housing budget.

Selling a Multi-Generational Home in Philadelphia or South Jersey

If you're thinking about selling your home in Philadelphia or South Jersey, don't overlook the features that make your property different.

A spare bedroom, finished basement, private entrance, or second kitchen may be exactly what another family has been searching for.

The right marketing strategy can help put those features in front of the buyers most likely to appreciate them.

Bottom Line

Your multi-generational-friendly—or simply larger-than-average—home may offer something many buyers can't find in a standard property: flexibility.

And in today's market, that can get attention.

If you're considering selling a home in Philadelphia, South Jersey, or the surrounding communities, let's talk about how your home's unique features could affect its market value and how we can position it to attract the right buyers.