A new national survey is shedding light on one of the most pressing concerns facing millions of Americans today: the feeling that homeownership once considered a cornerstone of financial security may now be out of reach for many renters. The report, published by the Davis Vanguard, underscores a dramatic shift in public sentiment as rising rents, higher home prices, and economic uncertainty reshape the American housing landscape.

According to the Ipsos/iSay survey featured in the article, more than half of renters 53% believe they may never be able to afford a home. It’s a striking number, revealing just how significantly affordability barriers are influencing the long-term financial outlook of renters across the country.

The New Reality: When Renting Consumes the Dream of Owning

For decades, homeownership symbolized stability, opportunity, and upward mobility. But today’s renters are navigating a very different financial landscape. The survey illustrates several core reasons why renters feel stuck financially, emotionally, and geographically with little room to progress into ownership.

1. The Crushing Weight of High Rent

Renters overwhelmingly cite one major roadblock: rent increases that outpace their income growth.

In cities and suburban markets nationwide, monthly rent has climbed to levels that make saving nearly impossible. When large portions of a household’s income are spent on housing, utilities, transportation, and childcare, the ability to save for a down payment becomes a distant dream.

The challenge is even more severe in cities like:

• San Jose

• San Francisco

• New York City

• Boston

• Los Angeles

where average rents often exceed $2,500–$3,500 per month.

In these markets, even high earners struggle but renters in lower- and middle-income brackets feel the pressure most intensely.

2. Home Prices and Mortgage Rates Add Another Layer of Difficulty

Even renters who have the discipline to save face another obstacle: rapidly rising home prices combined with elevated mortgage interest rates.

• Many renters feel priced out before they even begin.

• Others worry that even if they buy, the mortgage would stretch their finances thin.

The survey shows that renters aren’t just worried about saving they’re worried about sustaining a mortgage at all, especially with fluctuating interest rates and increasing property tax burdens.

This creates a compounding effect:
High rent limits savings → high home prices require larger down payments → high interest rates add ongoing financial weight.

3. Emotional and Psychological Barriers Are Growing

Beyond numbers, the survey highlights a growing emotional and mental burden among renters.

Many expressed feelings of:

• Hopelessness

• Frustration

• Discouragement

• Economic insecurity

For some renters, especially those in their 40s, 50s, and 60s, this isn’t just a temporary setback it feels like the closing of a window. Older renters are among the most pessimistic groups surveyed, often citing fixed incomes, healthcare costs, and reduced long-term earning potential as factors.

Meanwhile, younger generations like Gen Z show slightly more optimism not because conditions are easier, but because they still have time on their side.

Women Renters Report Greater Concern Than Men

One of the most important demographic differences revealed by the survey is the gender divide.

Women renters are significantly more likely than men to believe they’ll never own a home.

This may be influenced by:

• Wage disparities

• Greater caregiving responsibilities

• Higher rates of single-income households

• Less access to generational wealth

The findings signal an urgent need for targeted financial education, lending programs, and affordability solutions that address gender-based financial inequities.

Where You Live Matters A Lot

Housing affordability varies dramatically across the country. Renters living in high-cost states face the steepest barriers.

States with some of the highest average rents:

• Hawaii

• California

• Massachusetts

• New York

• New Jersey

In these regions, renters often spend 40–60% of their income on rent alone, far exceeding the recommended 30% threshold.

States with lower rental costs:

• Oklahoma

• North Dakota

• Arkansas

• West Virginia

• Mississippi

Even so, renters in these areas still struggle with rising prices, stagnant wages, and limited housing supply proving the affordability crisis isn’t confined to coastal metros.

The Bigger Picture: What This Means for Housing in America

The survey paints a clear picture of a deepening divide between renters and homeowners. If more than half of renters fear they will never buy a home, the consequences could be far-reaching:

1. Reduced Wealth-Building Opportunities

Homeownership has long been one of the primary ways Americans build generational wealth. Without it, renters risk falling behind financially.

2. Shifts in Family Stability

Renters who feel uncertain about housing affordability may delay major life decisions, including marriage, family planning, or relocating for career opportunities.

3. Pressure on Local and Federal Policymakers

The survey results reinforce the need for:

• More affordable housing supply

• Down payment assistance programs

• First-time buyer incentives

• Zoning reforms

• Tenant protections

• Expanded rental assistance programs

4. Changing American Housing Culture

The idea that owning a home is the ultimate measure of success may be fading as rising costs push more people into long-term or even permanent renting.

Conclusion: A Housing Market at a Crossroads

The new renter perception survey highlights a sobering reality: the path to homeownership is becoming steeper, narrower, and less accessible for millions of Americans. As rents rise and financial pressures grow, the traditional stepping stone from renting to owning is disappearing for many.

But the situation is not beyond repair. With targeted policies, expanded housing supply, and financial innovation, the dream of homeownership can still be revived  not just for the privileged few, but for renters across every demographic and region.

Source: Over Half of American Renters Say They May Never Afford a Home, New Survey Finds
https://davisvanguard.org/2025/05/renter-perception-homeownership-challenges/