Survey reveals rising home prices, mortgage rates, and long saving timelines are forcing many to sacrifice retirement and lifestyle goals

Raisin's 2025 State of Homebuying Report reveals 96% of Americans planning to buy a home face significant challenges, with affordability emerging as the top obstacle.

On average, homeowners report saving for six years to afford a down payment, while likely buyers say they’ve already been saving for nearly five — showing just how long and difficult the path to ownership has become. With high home prices, elevated mortgage rates, and persistent inflation, even small financial moves can make or break the dream of homeownership.

Key Findings from the Study:

• Affordability Dominates:
  • More than half (53%) of respondents said home prices in their preferred area are too high; 44% cited mortgage rates as a major hurdle; and 41% said they simply can’t save enough for a down payment
  • 9 in 10 Americans — both current and potential homebuyers — have made sacrifices to save for a home:
    • 58% are working extra hours or multiple jobs while 49% are cutting back on dining out and 41% are postponing major purchases
    • 18% have delayed major life milestones, such as weddings or starting families
• The Rise of the ‘Under-the-Mattress’ Economy
  • Nearly 1 in 4 aspiring homebuyers are keeping cash outside the banking system, with Gen Z leading the way:
    • Over 30% report stashing money “under the mattress” compared to 20% of Millennials and Gen Xers
• Homeownership Often Wins Over Retirement:
  • 82% of respondents say it’s very challenging to save for both a home and retirement simultaneously
  • 52% of likely buyers prioritize saving for a down payment over retirement
  • 20% report reducing retirement contributions to save more aggressively for a home

“Homeownership is a milestone that every American deserves the opportunity to achieve, but rising costs make even the best efforts fall short,” said Cetin Duransoy, CEO at Raisin. “At Raisin, we believe that saving smarter shouldn’t just be the exception, but the rule. Our mission is to give consumers more control and more return on their hard-earned money, helping them achieve goals like homeownership without sacrificing their long-term financial health.”

This research was conducted by 8 Acre Perspective, an independent market research firm and recognized leader in financial services, in August 2025 among a national sample of 1,000 U.S. consumers. Savings platform Raisin commissioned this study as part of Raisin’s ongoing consumer research series, which examines savings behaviors against a backdrop of rising home prices, higher interest rates, and generational differences in financial priorities.

For more information about Raisin, visit www.raisin.com.

About Raisin

Raisin is a no-fee, online savings platform whose mission is to give people more ways to save with fewer hassles. They connect savers to market-leading rates on CDs and high-yield savings accounts from a network of banks and credit unions nationwide. Raisin operates in 10 markets around the world, serving over 1 million customers. Raisin has helped savers earn more than $5 billion in interest globally.

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