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Gen Z’s New American Dream: Travel Now, Buy a Home Later?

Gen Z renters may value travel and flexibility now, but survey findings do not show that the generation has given up on homeownership.
From TheFinanceBase Team4 min to read

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Some Gen Z renters say leasing gives them room to spend on experiences instead of homeownership—but that does not mean the generation has given up on buying. The evidence points to a more nuanced tradeoff: travel and flexibility can matter now, while owning a home remains a longer-term goal for many.

Is Gen Z giving up on homeownership?

No. Different 2025 surveys suggest that many young adults still value owning a home, even as they rank other priorities higher or feel unable to buy yet.

In Bankrate’s 2025 Home Affordability Survey, 78% of Gen Z adults said homeownership was part of the American Dream. In Ipsos’s 2025 American Dream research, Gen Z ranked personal freedom first and homeownership eighth among considerations. Those results are not contradictory: a person can want a home eventually while valuing freedom more in the near term.

UCLA’s Center for Scholars & Storytellers surveyed 1,500 young people ages 14–27, an age range that includes teens and is not synonymous with adult Gen Z. Among those surveyed, 86% wanted to achieve the American Dream in some capacity, while 60% said it would be difficult for them personally. Economic challenges were the main reported barrier. Yalda Uhls, the center’s CEO and a UCLA adjunct professor in psychology, said: “Young people today still really want financial security and independence, but many feel like the cards are stacked against them and the system is rigged.”

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These are separate surveys with different populations and methods, not a direct comparison of equivalent groups. They describe attitudes and perceived barriers; they do not show that Gen Z as a whole rejects homeownership.

Do Gen Z renters prefer travel over buying a house?

Some surveyed Gen Z renters said they prioritize experiences over investing in a home. Entrata and Qualtrics surveyed more than 2,000 U.S. renters in January 2025. In the report, 83% of Gen Z renters said leasing lets them save for life experiences rather than invest in homeownership, and 45% said they prioritized travel and career growth over buying a home.

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Those figures apply to renters who answered the survey, not every Gen Z adult. Entrata serves the multifamily housing industry, and its public summary does not establish that the sample represents the entire generation. The answers also describe reported views: they do not show that renting caused respondents to travel, that they actually booked trips, or that travel replaced a home purchase financially.

Entrata’s 2024 survey found that 74% of U.S. renters overall spent discretionary money on experiences such as dining, international travel, and entertainment. That is a renter-wide finding, not a Gen Z statistic.

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Why are young adults choosing to rent?

For some, renting may leave more room for mobility, career changes, or spending on experiences. For others, it may reflect affordability or readiness rather than a preference against ownership. Survey responses do not establish which explanation applies to any one renter.

In Bankrate’s 2025 survey, 42% of Gen Z non-homeowners who wanted a home said they were not ready yet. Separately, 81% of prospective homeowners overall—not Gen Z specifically—said down-payment and closing costs were a significant obstacle. These findings suggest that an aspiration to own and the ability to buy now are different questions.

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  • Easy to Maneuver : Silent Dual Spinner wheels rotate 360°, providing superior maneuverability and a smooth glide in every direction. Thanks to the smooth-rolling wheels of suitcase, even when fully loaded, it's a breeze to maneuver through crowded airports and busy streets without feeling fatigued or strained.
  • TSA Lock and Alloy Zipper :The Built-in TSA lock does not have to be forced open and damaged during inspection. It ensures the safety of your valuables and facilitates your passage through security. The alloy zippers allow travelers to effortlessly open and close their luggage, which adds a safety and convenience to the entire trip.
  • Magic Large Space : Interior zippered divider panels keep contents separated and secure. One compartment of this carry on luggage with cross straps to keep your things in place and one fully enclosed with a zippered panel, mesh bags and dry&wet separation bag for easy organization,and the travel bag has multiple functional pockets to meet different travel needs.
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Renting can also make a move less complicated than selling a home, but it does not guarantee lower total costs or more money for travel. Rent, deposits, moving expenses, local prices, and how long someone stays all affect the calculation. Buying brings its own upfront and ongoing costs, so the monthly mortgage payment alone is not a full comparison.

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Is renting cheaper than buying?

There is no universal answer, and the cited surveys do not provide a local rent-versus-buy calculation. The result depends on the home price and rent in a particular area, financing terms, upfront cash, maintenance, taxes, insurance, and how long the buyer expects to stay. Someone deciding between renting and buying should compare likely costs over their actual time horizon rather than treating either option as automatically cheaper.

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Ownership expenses can extend well beyond the mortgage. In Bankrate’s 2025 Homeowner Regrets Survey, 42% of homeowners who reported at least one regret cited maintenance and hidden costs being more expensive than expected. This finding covers homeowners broadly, not Gen Z alone. Bankrate senior economic analyst Mark Hamrick put the stakes plainly: “For most folks, buying a home is the most expensive transaction of their lifetime.”

How to weigh a home purchase against travel and flexibility

Rather than framing the choice as “mortgage or flight,” compare what each option would mean for your own finances and plans:

  • Readiness and affordability: Can you cover the down payment and closing costs without draining your emergency savings? Would the ongoing housing costs fit your budget?
  • Time horizon: How long do you expect to stay in the area? A planned career move or uncertain location can make flexibility more valuable; a longer stay may change the ownership calculation.
  • Full costs: Include rent or mortgage, utilities, insurance, taxes where applicable, maintenance, moving costs, and other expenses—not just the headline monthly payment.
  • Priority versus aspiration: Decide whether travel or career growth is a near-term priority, a long-term goal, or both. Wanting to travel now does not require ruling out buying later.

Bankrate’s survey results are based on a non-probability online sample of 2,373 U.S. adults surveyed March 4–6, 2025 and weighted to align with the broader population. Its subgroup findings apply to the respondents in those groups; they are not a personalized financial forecast.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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