While many renters are still on the path to homeownership, the American dream is evolving and households are adapting their aspirations with today’s financial realities, according to survey findings from Entrata.
Based on responses from more than 2,000 renters, 71% said the American dream is changing and 60% reported it becoming less achievable. However, 61% said homeownership is still part of their personal dream.
Nearly half of respondents, 47%, cited homeownership as financially out of reach, with 38% saying they cannot afford both monthly payments and upfront costs to purchase a home. Gen Z’s mindset on homeownership also has shifted, with 81% viewing it as financially out of reach this year versus 72% in 2025.
Financial stability is a priority for renters, with three-quarters of the respondents noting that stability feels closer to their version of the American dream than owning a home. In addition, 62% said it is harder to achieve financial stability today than it was for their parents.
Renter timelines also are extending, with over half of the respondents, 51%, expecting to still be renting 10 years from now. Renters also are prioritizing flexibility. Over two-thirds, 67%, said they define freedom as the ability to move or relocate easily, while 62% said flexibility matters more than stability through homeownership.
“Renters today are balancing long-term aspirations with very real near-term financial pressures,” said Virginia Love, industry principal and multifamily housing expert at Entrata. “Homeownership remains an important goal, but the path is evolving. In response, renters are prioritizing stability, flexibility, and financial resilience, and that shift is creating new opportunities for the industry to better support them at every stage of their housing journey.”