U.S. children today have increasingly diverse living arrangements. In 2012, 10 percent of children lived with at least one grandparent; 8 percent lived in three-generational households, consisting of a parent and a grandparent; while 2 percent lived with a grandparent and no parent in the household. This article reviews the literature on grandparent coresidence and presents new research on children coresiding with grandparents in modern families. Findings suggest that grandparent coresidence is quite common and that its prevalence increased during the Great Recession. Additionally, these living arrangements are diverse themselves, varying by the marital status of the parent, the home in which the family lives, and the economic well-being of the family. Suggestions for future research are also proposed.