The home was listed on the National Register of Historic Places on December 18, 1970. The National Memorial was authorized on October 21, 1972. It is administered under Independence National Historical Park, but is counted as a separate unit of the national park system.
At 0.02 acre (80 m²), the memorial is often referred to as America's smallest "national park" (or unit of the National Park System). Benjamin Franklin National Memorial is even smaller (only a statue), but that national memorial is designated an "affiliated area" rather than a "unit" because it is not administered by the federal government.