Priced Out: The American Dream Faces a Housing Reality Check

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Many people grow up dreaming about their dream home—a white picket fence, a three-story Cape Cod, and a spacious backyard for Fido to run. However, did you know that the average family can no longer afford a home in over 99% of the country (ATTOM Report, 2023)? This isn't talking about their dream home, but having a home in general. What’s happening in society?

Not only has housing affordability in the U.S. reached a crisis level, but it has also continued to worsen over the last few years. Record-high prices, inflation, and limited inventory are locking millions of Americans out of homeownership. While the average age for marriage is 30 for men and 27 for women, slightly higher than decades past, this lockout of ownership is especially impacting younger generations. Even middle-class families are facing challenges that were once limited to low-income households.

According to CBN, this problem is fueled by too many buyers and not enough homes. But the bigger issue is this: there's a huge difference between what people earn and what they need to afford housing. "From 2020 to 2025, the housing wage has grown over ten dollars — that is insane," said Zoe Newmann with the Utah Housing Coalition.

Not only are houses more expensive, but mortgage payments in many cities have nearly doubled. First-time home owners are lucky if they find a house they can afford in an age of ever-increasing goods, services, and inflation. More serious than owning a home is the fact that "The lack of affordability is also delaying generational milestones, as many young people put off buying a home – or even starting a family."

Gen Z specifically is renting and not buying, for this reason, says Newsweek. With a record-breaking 46 million renting households in the U.S, it appears that renting is one long-term, smarter solution to this housing affordability crisis. "Home prices are now 40 percent higher than they were before the pandemic, with the median sale price of a typical U.S. home at $443,141 last month, according to Redfin." With the average home price close to half a million dollars, it's no surprise we're facing a housing reality check. Can we truly expect this generation, and more importantly, first-time homeowners, to have 500K?

As prices in all areas of living soar, we must take a stand for policy shifts, market correction, and fair, affordable, and equitable housing. As CBRE Investment Management notes, "U.S. housing affordability may finally have reached a crisis tipping point that should prompt a wave of local reforms to pave the way for significant increases in supply to meet demand."

This isn't about pursuing the American Dream anymore. It's about providing homes that all generations can afford, without having to forego their hopes and aspirations for having families and living within their means. As Christians, we’re called to take this crisis all the more seriously. Help organize housing support initiatives, advocate for policy changes, and provide housing and support for those struggling inside and out of the church. Together, we can advocate for a world with affordable, honest housing for all.

Amber Ginter is a teacher-turned-author who loves Jesus, her husband Ben, and granola. Growing up Amber looked for faith and mental health resources and found none. Today, she offers hope for young Christians struggling with mental illness that goes beyond simply reading your Bible and praying more. Because you can love Jesus and still suffer from anxiety. You can download her top faith and mental health resources for free to help navigate books, podcasts, videos, and influencers from a faith lens perspective. Visit her website at amberginter.com.