The Pulse

Study: 79% of Americans Consider Homeownership Part of the ‘American Dream’

Including 73% of Millennials

First National Bank of Omaha Releases Data from 2019 ‘State of Homeownership’ Survey

OMAHA, Neb. June 18, 2019 – In recognition of National Homeownership Month in June, First National Bank of Omaha today released the results from its 2019 State of Homeownership Survey. The survey examines Americans’ perceptions and preferences related to different aspects of homeownership, from mortgages and debt to home maintenance and the future of the country’s housing market.

The survey found that 79% of Americans consider homeownership as part of the “American Dream.” In addition, 59% consider homeownership essential to raising a family and 71% view homeownership as a more of a financial investment than as a financial liability.

“While owning a home certainly carries significant costs, the tradition of homeownership remains overall strong and a vital part of America,” said Jerry O’Flanagan, executive vice president, Consumer Banking Group, First National Bank of Omaha. “Our survey reveals insight on the extent to which Americans value homeownership and the extent to which homeowners are happy with their decision. The caveat, however, is that owning a home requires a lot of smart planning and weighing of financial options.”

Among the survey’s additional findings:

  • 94% of homeowners say they are happy they decided to become a homeowner.
  • 79% of non-homeowners say they plan on one day owning a home.
  • 68% of homeowners say they have remaining mortgage debt.
  • 55% of non-homeowners say they would like to one day be a homeowner, but are concerned their credit will prevent them from being approved for a mortgage.
  • 53% of homeowners say owning and maintaining a home is more expensive than expected.
the tradition of homeownership remains overall strong and a vital part of America...

According to the survey, 73% of Millennials consider homeownership part of the “American Dream,” compared to 84% of Baby Boomers and 81% of Generation X. In addition, 31% of Americans say their view of the future of the country’s housing market is optimistic, while 30% say pessimistic and 39% say neutral.

In 2018, First National Bank of Omaha released the results of its inaugural Mortgage and Money Survey, which found that the majority of Americans who have taken out a mortgage have yet to pay it off.

The study was conducted online using Survey Monkey. One thousand and sixty eight participants were polled, spanning across the United States. The demographic of those polled represented a broad range in generation, geographic location, and gender.



About First National Bank of Omaha
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska and its affiliates have more than $23 billion in assets and 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.