Homeownership remains a goal for American renters despite shifting financial realities, data from a new survey shows.

Multifamily operating system Entrata surveyed over 2,000 renters and found that 71% think the American Dream is changing as renting becomes an increasingly optimal financial decision.

Over 80% of respondents said renting is the smarter financial decision for their household right now, while 47% said homeownership is simply unaffordable. Among Gen Z, that rate was even higher — 81% in 2026, up from 72% in 2025.

Nearly 40% of respondents said they couldn’t afford the combination of high monthly mortgage payments plus upfront homebuying costs. Over half admitted they think they’ll still be renting in 10 years.

With homeownership presenting as a financial impossibility, 75% of renters said financial stability currently feels more like the American Dream than owning a home, and 62% said that’s a much harder goal to achieve nowadays than it was for their parents’ generation.

That said, 61% said homeownership is still part of their own personal American Dream.

“Renters today are balancing long-term aspirations with very real near-term financial pressures,” Virginia Love, industry principal and multifamily housing expert at Entrata, said in a press release. “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.”

Entrata described today’s renters as “intentional,” with flexibility key for many — over 60% said the ability to move or relocate easily is currently more important than the stability of homeownership. That’s a shift from yesterday’s renters, who merely saw renting as a “stepping stone” to homeownership.