A multigenerational household means two or more adult generations living in the same home. Another definition of a multigenerational household is one with three generations living together in the same home. For our purposes here, we’ll consider a multigenerational household as two or more adult generations living together. This could include grandparents, parents, and school-age children or younger all living together in the same household. Another common example of a multigenerational household is young adult children and their parents living together in the same home.