Survey: Nearly Half of Renters Fear They’ll Never Own

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Most renters aspire to be homeowners. But down payment barriers have many concerned if they’ll ever be able to own one day, according to a survey of 2,500 consumers from LendingTree.

Eighty-eight percent of respondents said they’d rather own a home than rent. Yet, 48% of renters say they worry about whether they’ll ever be able to buy, the survey shows.

Down payment barriers, home prices being too high, and difficulty qualifying for a mortgage due to a low credit score are the biggest concerns and obstacles to homeownership, respondents said. Further, “as the country grapples with a shortage of homes available to meet demand, many who don’t own homes fear they never will,” the research notes.

A bar chart showing the main hurdles keeping would-be homeowners from buying.

Many renters see the value in homeownership over renting. The main reasons they prefer to own are the flexibility to do what they want with a space and the stability of not having to worry about renewing a lease, the survey finds.

A bar chart showing the top reasons why homeownership appeals to survey respondents.