More Americans Say it's Better to Buy Than Rent
More Americans Are Feeling Ready to Buy Than Rent
For the first time since 2023, more Americans believe buying a home is a better choice than renting.
That's one of the biggest takeaways from Bank of America's 2026 Homebuyer Insights Report. According to the survey, 53% of respondents say buying a home in today's market is a better option than renting or moving in with family, while 47% prefer those alternatives.
Even though affordability remains a challenge, many people are feeling more hopeful about homeownership than they have in recent years.
Homeownership Still Matters
Bank of America's survey included 2,000 adults, split evenly between current homeowners and renters who either have owned or hope to own a home someday.
Compared to last year, attitudes toward homeownership have become even more positive:
90% say a home is a valuable investment.
94% believe it provides stability.
87% see it as an important life milestone.
86% say owning a home brings emotional fulfillment.
These numbers show that, despite today's market challenges, homeownership continues to be an important goal for many people.
Buyers Are Finding New Ways Forward
While some buyers are still hoping for lower home prices or mortgage rates, fewer are waiting for the "perfect" time.
Younger buyers, especially Gen Z and Millennials, are leading the way by adapting to today's market. Many are:
Taking on extra work to increase savings.
Exploring down payment assistance programs.
Considering buying with friends or family.
Looking at different neighborhoods or more affordable homes.
Current homeowners are also feeling more confident, with 52% expecting to buy another home in the future.
Affordability Is Still the Biggest Challenge
Buying a home isn't without obstacles.
According to the survey:
58% say home prices are their biggest concern.
47% point to higher mortgage interest rates.
Many renters are also making adjustments by choosing smaller or more affordable rentals to better manage monthly expenses.
What This Means for Buyers and Sellers
The biggest takeaway isn't that the market has suddenly become easy. Affordability is still something many buyers are working through.
What's changing is people's mindset.
Instead of waiting for everything to line up perfectly, more buyers are choosing to work with today's market. They're adjusting their expectations, exploring different options, and finding creative ways to make homeownership possible.
That's encouraging because real estate isn't driven by interest rates alone. It's also driven by confidence. As more buyers feel ready to move forward, the market often becomes more active.
Every local market is unique, but this national survey offers an encouraging reminder that many people are looking ahead with optimism. If you're thinking about buying or selling, now is a great time to have a conversation about what opportunities today's market may hold for you.