We all grew up picturing what our dream home looks like. Maybe it has a white picket fence, a pool, or it’s a small cottage in the middle of the woods. While reality can sometimes interfere with what your dream home looks like or where it’s located, keeping your dream home in the back of your mind is never a bad thing.
We were curious as to what the ideal dream home looks like to the average American, and if there were any stark differences among the different generations. In a survey of more than 900 Americans, we also sought to understand homeownership trends and how realistic owning that dream home is.
When it comes to their dream homes, 69% of Americans would rather build their homes over renovation. According to the average American, the ideal dream home has 3.8 bedrooms and 3 bathrooms and is an average of 4,599.5 square feet.
The most important features in a dream home include a large kitchen, a big backyard or good property, and the home’s location. While we’ve all heard the phrase, “location, location, location,” it’s not just about the street address but also what the home’s location may offer. For 56% of Americans, their dream home is by good schools, while 79% say it’s important to be near shopping and 46% say proximity to entertainment and nightlife matters.
If we’re really talking about dream homes, some dream features may be considered luxurious to have in the average home. The top luxury features Americans would want to build their homes include a 2 or more-car garage, energy-efficient appliances, and a hobby room.
For the majority of Americans, their dream homes are in the suburbs. But 19% would want to be in the country, 18% in a city, 15% on the beach, 12% on the water, and 9% would prefer the mountains.
The outside of a dream home varies by person, but according to most Americans, there are some clear preferences. The top exterior styles Americans would want in their dream homes are contemporary, victorian, and ranch. Most Americans don’t want the exterior of their homes to be too vibrant; 77% prefer neutral paint colors while 23% favor bolder colors and trends.
The top neutral colors Americans like on the exterior of their homes include whites, grays and creams, while the top bold colors Americans would want include accents of black, blues and greens.
Similar to the dream home’s exterior, the interior of the average American dream home is neutrally painted with colors such as white, off-white, and greige (a mixture of gray and beige). 73% prefer these neutral colors, compared to the 27% that like bolder colors on the inside. Top bold colors for the interior include blues, charcoal, and greens.
Regarding design style, most Americans want the interior of their dream homes to be either modern, contemporary, or farmhouse. The majority (71%) also prefer a minimalist approach to interior design, as opposed to a maximalist design style.
According to our survey data, there are some generational trends concerning the looks of a dream home. For example, the majority of all four generations (Baby Boomers, Gen Z, Millennials and Gen Z) say their dream homes would have 3 bathrooms, neutral exterior paint colors, and 3 to 4 bedrooms.
There were a few slight changes regarding the dream home location and exterior style. For example, while 3 generations like contemporary exterior styles, Gen X prefers ranches. Additionally, the same 3 generations prefer their dream homes to be in a suburb, while Gen X wants to live on a beach.
Gen X also has its ideas when it comes to the average square footage, wanting their dream homes to be an average of 7,077 square feet. The dream home of Baby Boomers is 3,860 square feet, Millennials would like 3,700 square feet, and Gen Z wants 3,571 square feet.
We used AI to generate what these dream homes may look like, based on the survey data broken down by generation. Would you live in any of these houses?
(Shown in order: Baby Boomer Generation, Generation X, Millennial Generation, Generation Z.)
When it comes to the concept of owning a home, 94% believe it truly is part of the “American Dream.” Is that dream just a personal lifestyle choice or a necessity? For 2 in 5 Americans, it’s a necessity.
The majority (94%) don’t currently live in their dream home, and more than half (52%) don’t believe they’ll ever be able to obtain their dream home. When we broke this down by generation, 46% of Gen Z and 50% of Millennials felt this way.
One factor may be the cost of dream homes. Across the generations, Americans believe their dream homes will cost somewhere between $500,000 and $1 million or more. But that doesn’t mean Americans won’t work toward getting their dream homes!
Among survey respondents, 58% currently own and 43% rent. Among those who rent, 42% plan on buying or building a home within the next 5 years. While this is exciting, the prospect of going from renting to owning can be intimidating, and 64% say the thought of home ownership gives them anxiety.
One thing is clear about the average American Dream home, no matter the generation or style preference, the dream of ‘home sweet home’ unites us all. Whether it’s a cozy suburban nest or a breezy beachfront escape, the longing for the perfect home is something we all share.
In March 2024, we surveyed 984 Americans for feedback on their dream homes and home ownership. Respondents were 48% female, 50% male, and 2% nonbinary with an age range of 18 to 78 and an average age of 42.
The dream homes by generation images were created by the AI-image creation tool Midjourney.
For media inquiries, contact media@digitalthirdcoast.net.
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