Despite rising home prices and financial strain, 82% of Americans still consider owning a home part of the American Dream, according to Bankrate’s 2025 Home Affordability Survey. That figure is up from 78% in 2024 and surpasses aspirations like retirement (71%) or a successful career (66%).
Americans consider homeownership to be the cornerstone of the American Dream, more so than anything else. This belief hasn’t wavered and has only gotten stronger despite increasing affordability challenges,” said Greg McBride, Chief Financial Analyst at Bankrate.
Affordability is the top obstacle for would-be homeowners. Among non-homeowners who desire to buy, 83% cite cost-related issues. Specifically, 59% say their income isn’t enough, 55% point to high home prices, and 46% say they can’t afford a downpayment or closing costs. For aspiring homeowners, 81% call these upfront expenses a significant barrier.
Saving enough feels out of reach for many: 20% of non-homeowners believe they’ll never save enough for a down payment. Others expect to need several years—12% say at least 10 years, while only 4% say they’ll save enough within a year or two.
Still, 64% of Americans say they’d be willing to make lifestyle changes for affordable housing. Among these, 29% would downsize, 24% would move out of state, and 19% would consider moving farther from family and friends. Gen Zers were most likely to say they’d relocate for affordability.
Current homeowners report having reached their goals mostly through saving: 44% said they intentionally saved for a down payment, while others relied on grants (17%), family gifts (15%), or additional income (10%).
Although owning a home may sound like a dream to most, the report shows homeownership regrets are common. Among homeowners with regrets, 40% cited maintenance and hidden costs. Others regretted buying too small a property (18%), paying too much (14%), or having a mortgage that’s too high (13%).
Despite these regrets, 69% of homeowners say they’d buy their current home again. That number rises to 77% among Gen Z and 76% among millennials.
Even with the obstacles, aspirations clearly remain strong, underscoring a lasting cultural value. As McBride noted, “This belief hasn’t wavered and has only gotten stronger despite increasing affordability challenges.”
Click here for more on Bankrate’s 2025 housing market forecast.
