Homeowners are significantly more likely than renters to love where they live

Roughly 3 in 5 U.S. homeowners (59%) are very satisfied with their living situation, compared with 34% of renters. That’s according to a survey commissioned by Rocket Mortgage and Redfin, and conducted by Ipsos, in May 2026.

Key takeaways:

• Homeowners are more likely to love where they live, but overall, most renters report they’re at least somewhat satisfied with their living situation.
• Homeownership typically provides greater financial security: 62% of homeowners say they can easily afford their monthly housing payments, versus just 29% of renters.
• People who own their home also find contentment in putting down roots in their neighborhoods and customizing their houses.

Nearly all homeowners are satisfied with where they live, and so are most renters

Even though homeowners are significantly more likely to love where they live, most renters report overall contentment. Nearly 7 in 10 renters (69%) say they’re either “very satisfied” or “somewhat satisfied” with their current living situation, as do nearly all homeowners (90%).

On the flip side, just 5% of homeowners are dissatisfied with their living situation, compared with nearly 1 in 5 renters (18%).

Homeowners benefit from stability, opportunity to build equity, and strong social ties

Homeownership typically provides greater financial security, stability, and control than renting.

Nearly two-thirds (62%) of homeowners say they can easily afford their monthly housing payments, versus just 29% of renters. Homeowners also report more day-to-day financial flexibility: 59% say they are frequently able to do things for their own enjoyment, compared with 28% of renters. Other public data shows that homeowners typically earn higher incomes than renters, which could be another reason they’re more likely to be satisfied with their living situations.

Another financial advantage of homeownership: Securing a fixed-rate mortgage means the monthly payment on principal and interest stays the same throughout the life of the loan, while rents typically increase every year. Homeownership often becomes more affordable each year as monthly costs stay the same while incomes rise, whereas rents sometimes rise faster than wages.

Owning a home can lead to financial stability

Homeowners also have the opportunity to build equity, creating a sense of accomplishment and long-term financial security.

“Homeownership has changed my life because it gives me financial freedom,” says Tyler Clark, a Chicago resident who owns eight properties in the area, seven of them rentals. “I’m focused on creating comfortable homes for my tenants and building a future through real estate. Homeownership has given me the freedom to do that, but it's also taught me the importance of investing in myself and the place I call home. There's something deeply fulfilling about knowing that the decisions I made have created financial security, opportunity, and a space that's truly my own.”

Now in her early 30s, Clark says she derives financial and personal satisfaction from being a young, Black single woman who owns a significant real estate portfolio.

“I was one of the first home buyers that I knew as a Black woman when I started in my early 20s,” she says. “Some people are getting married and purchasing homes with a partner, but I think there’s empowerment around the idea that you can get started younger, while single, and build a portfolio. You don’t have to wait.”

Homeowners find fulfillment in customizing homes, community roots

Owning a home allows people to customize their space to their liking, and personalizing a home by decorating, painting, landscaping, or remodeling can foster emotional connections to where you live. Nearly three-quarters (74%) of homeowners say their current home is a reflection of who they are, compared with 46% of renters.

Some renovations also improve quality of life, whether that’s building an office, creating a playroom for children, making accessibility improvements, or whatever helps a homeowner feel more at home. Half (52%) of homeowners have made improvements or renovations to their home in the last year, according to the survey. Renters are often restricted by lease agreements that limit renovations.

Owning a home also tends to anchor people more firmly in place, contributing to people’s sense of community and fostering social interactions. The survey reinforces that connection: 72% of homeowners say they feel a sense of belonging in their neighborhood, compared with 54% of renters.

“Homeownership can create a sense of stability that helps people feel more rooted in their communities,” says Sarah Tarraf, Senior Vice President of Knowledge & Data Insights at Rocket Mortgage. “When people expect to stay in one place for years, they're often more likely to invest time in building relationships with neighbors and getting involved locally. Renters can build those same connections, but the uncertainty that comes with renting – such as lease changes, rent increases, or having to move – can make it harder to establish long-term ties.”

Methodology

The survey results in this report are from a survey commissioned by Rocket Mortgage and Redfin, and conducted by Ipsos, in May 2026. It was fielded to a nationally representative sample of 4,000 adults 18+ who are U.S. residents. The results for this combined group of survey respondents have a credibility interval of +/-1.9 percentage points. The confidence interval is +/- 2.5 percentage points among homeowners and +/- 3.2 percentage points among renters.

This report focuses primarily on the question: “How do you feel about your current living situation?” Respondents could select either “I am very satisfied,” “I am somewhat satisfied,” “I am neither satisfied nor dissatisfied,” “I am somewhat dissatisfied,” or “I am very dissatisfied.” 2,280 homeowners and 1,431 renters responded to the question.

It also includes results from this question: “On a scale of 1-10, how strongly do you identify with the following statement in regards to your current financial situation? I am frequently able to do things for my own enjoyment.” In this report, we included respondents who chose 8, 9, or 10 in the “frequently” category where 10 means completely true and 1 means not at all true.

Finally, this report includes results from this question: “How much do you agree or disagree with the statements below?” The statements included in this report are: “My current home is a reflection of who I am,” and “I feel a sense of belonging in my neighborhood.” The results included in this report reflect respondents who selected “somewhat agree” or “strongly agree.”