Rising Housing Costs Deflate Economic Optimism

Sixty Percent of Renters Report Financial Health in Jeopardy Over High Housing Costs

New data shows that twice as many renters as homeowners say that rising housing payments are having a negative impact on their financial health. This, as 18 million consumers report having given up on buying a home since January 2021 due to rising mortgage rates. Learn more in PYMNTS’ latest “Consumer Inflation Sentiment” report.

Inside the February Report
  • 30%: Share of Gen Z who live in someone else’s home without paying rent or contributing to mortgage payments
  • 60%: Portion of renters who say their rental payments have a notably negative impact on their financial health
  • 34%: Share of lower-income consumers who say monthly rental payments have a very or extremely detrimental effect on their financial health