Gen Z Is Renting, Not Buying—And It Could Redefine the American Dream

Gen Z is redefining the American Dream as more young adults choose long-term renting over homeownership. With record-high housing prices, stubborn mortgage rates near 7 percent, and limited inventory, nearly three in four Gen Z renters say leasing makes more sense than buying. Experts note that while most still aspire to own a home someday, today’s younger generation is prioritizing flexibility, financial stability, and life experiences over rushing into mortgages. This cultural shift could reshape the housing market and delay traditional milestones like family formation, signaling long-term changes in wealth-building and economic mobility.