Most Millennials and Gen Z renters say keeping up with housing costs is a struggle, according to a new Redfin survey.

The real estate brokerage, which partnered with Ipsos to survey more than 4,000 U.S. homeowners and renters in May 2025, found that nearly half reported difficulty affording housing. Among Millennials and Gen Z renters, that share jumped to 70%.

To make rent, many young renters said they’re making major cutbacks: 40% reported eating out less, while others said they were skipping vacations, borrowing from family and friends (27%), or picking up extra shifts at work (25%). Some even admitted to skipping meals altogether.

“Many Gen Zers and millennials are making real sacrifices—taking side gigs, selling possessions, even putting off medical care—just to cover the basic need of housing,” said Daryl Fairweather, Redfin’s chief economist. “Meanwhile, young people with access to family wealth are often in a very different position, with about a quarter of recent young homebuyers relying on parental support for down payments. As home prices continue to rise faster than wages, that dynamic could widen the gap between those who have help and those who don’t.”

Still, Redfin noted some encouraging signs: mortgage rates are at a 10-month low, more homes are sitting on the market, and sellers are increasingly willing to negotiate. In parts of Florida and beyond, the income required to buy a median-priced home has even fallen compared to last year.

“In Tampa, we’re seeing builders and sellers offer incentives to attract buyers,” said Jim Fletcher, a Redfin Premier agent. “For young professionals open to condos or townhomes, it’s actually a good moment to start building equity. Prices are lower than a few years ago, and buyers have more leverage.”

Read the full survey results here at Redfin

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