Survey: Nearly 3 in 5 Consumers Feeling the Squeeze of Housing Costs

Renters for Now, or Forever?

About 40% of survey respondents told us they aren't homeowners, similar to the 35% household rate for renters as reported by the U.S. Census Bureau in 2025. Most are renting by themselves, but some non-homeowners (about 1 in 3) are living with family or friends without contributing rent.

Of these, most still want to own a home—someday. Two-thirds tell us they want to become homeowners, with the other third expressing little or no interest in homeownership.

Question: How interested are you in buying your own home?

A significant minority of non-homeowners don't expect to ever own a home, with some throwing in the towel quite recently. "I feel like it's an unattainable dream, especially with only one income," was one survey-taker's response. "I make a good amount for being single, but I still can't save up a down payment."

Others made up their minds a while ago, it seems. From them we heard, "I feel like there's no way for me to become a homeowner in the future. Homeownership to me seems like a luxurious status."

And among those interested, frustration about saving for homeownership bubbles up, as rising rents and costs, as indicated earlier, means less money available to save for a down payment on a home.

"I still want to own a home someday, but right now it feels far off," another respondent told us. "Between rent going up and prices here, saving a down payment feels like it keeps moving further away."

Homeowners Hit Hardest by Cost Hikes to Insurance Premiums, Property Taxes and Utilities

Renters are certainly frustrated, but owning your own residence doesn't seem to be much of a salve either. Current homeowners have been hit with increases to major home expenses, based on Experian survey results. Local property tax leads the list of costs that have increased for homeowners, with utilities and insurance premiums not far behind.

Question: Which of these costs have increased the most for you in the past two years?

Just as all real estate markets are local, so are their attendant costs.

• Property taxes were a sore point for 26% of homeowners. Rising home values often mean higher tax assessments, and as home values have increased in virtually every metro in the U.S., so have local property tax receipts. (And where they haven't, such as in California, the side effect is current owners hanging on to their lower tax assessment instead of selling.)
• Insurance premiums, which are regulated at the state level, are increasing the most. Rising homeowners insurance premiums are likely due to a combination of rising construction costs and increased risk in hazard-prone areas in the U.S.
• Energy costs continue to rise. Utility costs are already higher, and AI data centers' insatiable appetite for additional energy does nothing to reduce energy costs for homeowners going forward.

'Tis the Season (for Homebuying)?

While the fall season isn't usually considered the best time to shop for a new home, it's nearly as popular as spring and summer months for house-hunting, according to our survey.

Question: As a buyer in the market, how would you rate each part of the year to shop for a home?

Nonetheless, there's a bit of a contradiction, as the same group of consumers who consider winter to be a buyer's market also don't call it a good time to buy. Because there are fewer buyers in winter (and thus less competition), more are willing to brave the elements and holiday traffic.

Question: What time of year do you think there is less or more competition (fewer buyers in the market, relative to supply)?

There are fewer listings in winter, to be certain. Nonetheless, if there are motivated sellers out there, listing in winter is a demonstration of wanting to sell—and could benefit motivated buyers.

Affordability Remains the Primary Challenge for Today's Consumers

Mortgage rates are rising, which puts a damper on the hopes of would-be buyers, as well as would-be sellers. Sellers may need to lower asking prices if they expect a sale to a qualified buyer in the coming months. Renters, too, are caught in the crossfire of rising costs not only for themselves, but for the mortgage holder who may be their landlord.

Growing costs for housing and the expenses that come with them are, admittedly, mere details around a broader issue of affordability, however.

The cost of everything from food to travel is getting in the way of homeownership, no matter the price tag. When rising heating prices, gas prices and grocery prices continue to erode what was meant to be part of a down payment for a home, fewer consumers may be able to achieve what many still believe to be the American Dream.

As always, reducing debt, increasing income and improving credit are ways buyers can better position themselves in a challenging real estate market.