3 in 4 U.S. Homeowners Would Rather Be Home Than Anywhere Else
- In recognition of National Homeownership Month, we’re looking at how Americans feel about their homes, and what they go through to buy one.
- Most homeowners have warm feelings about their home, with nearly 70% saying their home is a reflection of who they are, according to a recent Redfin survey.
- Saving directly from paychecks is the most common way for homebuyers to gather money for down payments, but recent buyers also report working second jobs, receiving cash gifts from family, and selling stocks.
Nearly three-quarters (74%) of U.S. homeowners say they would rather be home than anywhere else, according to a recent Redfin-commissioned survey.
In recognition of National Homeownership Month, Redfin is reporting on how Americans feel about their homes, and how they buy one. The survey stats in this report are from two Redfin-commissioned surveys, conducted by Ipsos in September 2024 and May 2025, respectively.
Nearly 7 in 10 (68%) homeowners say their home is the only place they can relax, and 68% say it’s the only place they can get a good night’s sleep. Additionally, 69% say their home is a reflection of who they are.
| Most Homeowners Would Rather Be Home Than Anywhere Else, Feel Sense of Belonging in Neighborhood | |
| How much do you agree or disagree with the statement below? | Share of homeowners who agree |
| My current home is a reflection of who I am | 69% |
| My home is the only place I can relax | 68% |
| My home is the only place I can get a good night’s sleep | 68% |
| I would rather be at home than anywhere else | 74% |
| I feel a sense of belonging to my neighborhood | 64% |
| The stats in this table are from a Redfin-commissioned survey commissioned by Ipsos in September 2024, fielded to 1,802 U.S. residents aged 18-65. 805 homeowners answered this question. Respondents could select all that apply. | |
This has been a tough year for homebuyers: 2025 has been characterized by high housing costs and a cooler-than-usual housing market. But the people who were able to buy a home this year, and those who were already homeowners, have warm feelings about where they live.
“Owning a home gives people more than just a place to live. It gives them a sense of stability and identity, and often a sense of pride that comes with fulfilling the American Dream,” said Daryl Fairweather, Redfin’s chief economist. “For many people in the U.S., owning a home represents years of hard work and decision-making, and provides them with a permanent space to reflect their personality and values. Beyond the emotional ties, owning a home is also one of the most common ways to build generational wealth.”
Nearly 1 in 5 Young Homebuyers Work Second Jobs to Make Down Payment
The people who bought a home in the last year have worked side hustles and received cash from family, among other things, to make it work.
Nearly one in five (18%) Gen Zers and millennials who recently bought a home worked a second job to accumulate funds for their down payment, according to a recent Redfin-commissioned survey. Additionally, 21% of them used a cash gift from family, 20% sold stock investments, and 18% lived with family or friends to save money.
The most common way to accumulate funds for a down payment among young Americans is to simply save directly from paychecks (57%).
Zooming out to recent homebuyers of all ages, saving directly from paychecks remains the most common way to accumulate money for a down payment, with 54% doing so. Selling another home is the second-most common method (27%), followed by receiving a cash gift from family (13%) and selling stock investments (13%).
| Most Recent Homebuyers Save Directly From Paychecks For Down Payment | ||||
| How did you accumulate the money you need for a down payment? | Share of homeowners who chose this option (overall) | Share of homeowners who chose this option (Gen Z and millennial) | Share of homeowners who chose this option (Gen X) | Share of homeowners who chose this option (Baby boomer) |
| Saved directly from paychecks | 54% | 57% | 56% | 51% |
| Worked a second job | 11% | 18% | 12% | 5% |
| Cash gift from family | 13% | 21% | 14% | 7% |
| Sold stock investments | 13% | 20% | 11% | 9% |
| Pulled money out of retirement funds early | 9% | 12% | 11% | 6% |
| Inheritance | 10% | 11% | 12% | 9% |
| Contributed less to retirement savings | 6% | 11% | 7% | 2% |
| Sold cryptocurrency investments | 5% | 13% | 4% | 0.5% |
| Sold another home | 27% | 16% | 25% | 36% |
| Used equity from another home I still own | 10% | 13% | 9% | 8% |
| Lived with parents/family/friends to save money | 9% | 18% | 8% | 3% |
| I received assistance from the government | 5% | 8% | 5% | 1% |
| I received assistance from a non-profit association | 6% | 11% | 5% | 0.9% |
| The stats in this table are from a Redfin-commissioned survey commissioned by Ipsos in May 2025, fielded to 4,000 U.S. residents. 2,204 recent homebuyers answered this question. Respondents could select all that apply. | ||||
The Latest Homeownership Stats
Here are some other statistics about homeownership in the U.S.
Roughly two-thirds (65.1%) of Americans own the home they live in, as of the first quarter of 2025. That’s the lowest share since 2019, though the U.S. homeownership rate hasn’t varied much over the last decade; it has hovered between 63% and 68%.
Broken down by age, older Americans are more likely than younger Americans to own their home. Eight in 10 (80%) baby boomers own their home, compared to 73% of Gen Xers, 55% of millennials and 26% of Gen Zers.
Broken down by race, 72% of white people in the U.S. owned their home as of 2023, compared to 63% of Asian people, 51% of Hispanic people, and 45% of Black people.
The post 3 in 4 U.S. Homeowners Would Rather Be Home Than Anywhere Else appeared first on Redfin Real Estate News.
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