For young renters, the American Dream may come with a stock portfolio instead of a picket fence.

Gen Z renters are more likely to identify investing as a milestone that makes them feel successful than buying a home, according to a new Entrata survey reported by MarketWatch.

Some 37% chose investing, compared with 25% who selected homeownership — making Gen Z the only generation surveyed to put investing ahead of purchasing a property on that measure.

The findings suggest a shift in how young Americans define financial achievement as the traditional path to homeownership grows harder to navigate.

“The data shows a clear shift in what success looks like for today’s renters. Instead of focusing on homeownership, many are prioritizing financial freedom and debt-free living,” Chase Harrington, president of Entrata, told MarketWatch.

In a separate measure, 70% of Gen Z renters associated success with financial freedom, compared with 55% who associated it with owning a home. Renters across age groups shared that preference.

The financial hurdles to buying help explain the appeal of building wealth elsewhere.

US housing costs could take until 2031 to return to their 2018 levels relative to household income — even if mortgage rates fall to 6% and annual home-price growth holds around 2.1%, according to a Redfin analysis. Buyers in New York City and Long Island could face a wait of more than a decade.

And a down payment is only the beginning. Mortgage interest, property taxes, insurance and maintenance all factor into the cost of ownership.

That leaves renters weighing whether buying is the best use of their money, particularly if a job change or growing family could prompt another move before the upfront costs pay off.

“Homeownership can be an important part of long-term financial security, but today’s home prices and mortgage rates mean that renting while investing may make more financial sense for many young people — especially if they do not expect to stay in one home for seven to 10 years,” Brian Walsh, head of advice and planning at SoFi, told MarketWatch.

“Gen Z’s focus on investing may therefore reflect a thoughtful rent-versus-buy decision while still building wealth for the future.”

The Entrata findings don’t establish that young renters have abandoned homeownership or are redirecting down-payment savings into stocks. But separate research shows younger adults are entering financial markets much earlier.

An August 2025 JPMorganChase Institute analysis found that 37% of 25-year-olds in its sample in 2024 had transferred money from checking accounts into investment accounts since age 22. Among people who turned 25 in 2015, the equivalent figure was just 6%.

Researchers pointed to falling investment minimums and trading costs, pandemic-era savings and stock-market performance as factors behind the broader rise in retail investing.

They also suggested that housing’s strained affordability may be making stocks more accessible or attractive than home equity.

But where does the money to invest come from?

For some young adults, family support helps make room in the budget — including by covering the cost of keeping a roof over their heads.

An August 2026 MarketWise survey of 704 US investors ages 18 to 34 found that 28% had relatives covering rent or housing, while 35% received help with phone bills and 21% with groceries.

Respondents invested an average of $492 monthly and estimated that one-third of their contributions would disappear without family assistance.

Some 11% said they would own no investments without that support, rising to 25% among those whose families entirely covered their housing.

The findings illustrate how parental help can support a portfolio indirectly: Covering everyday bills frees up money young adults can invest themselves.

That assistance wasn’t universal. Some 46% said their families covered none of the expenses listed in the survey.

The MarketWise sample included both Gen Z and millennials and surveyed a different group from Entrata’s renters. Still, it highlights how family resources can shape who has room to invest while renting.