Wells Fargo Study Finds Americans Redefining the American Dream

Gen Z leaning on family, community, and experiences over traditional homeownership

Mar. 30, 2026 at 3:10pm by Ben Kaplan

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A new study from Wells Fargo has revealed that Americans, especially younger generations like Gen Z, are redefining the traditional American Dream, moving away from the long-held focus on homeownership and instead prioritizing family, community, and experiences. The 2026 Wells Fargo Money Study found that Gen Z is less interested in owning a home and more focused on building strong support networks and pursuing fulfilling life experiences.

Why it matters

This shift in priorities reflects broader societal changes, including rising housing costs, student debt burdens, and a greater emphasis on work-life balance and mental health among younger Americans. As the definition of the American Dream evolves, it has significant implications for industries like real estate, finance, and consumer spending.

The details

The study found that only 55% of Gen Z respondents said owning a home was a key part of their American Dream, compared to 72% of Baby Boomers. Instead, Gen Z placed a higher value on having a strong support system of family and friends (72%) and being able to travel and have new experiences (68%). The study also revealed that Gen Z is more likely to rely on family for financial support, with 58% saying they expect to receive help from relatives to achieve their goals, versus just 39% of Boomers.

  • The 2026 Wells Fargo Money Study was conducted in February 2026.

The players

Wells Fargo

A major American multinational financial services company.

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What they’re saying

“The American Dream is evolving, with younger generations placing a greater emphasis on community, experiences, and financial security rather than traditional milestones like homeownership.”

— Michael Weinbach, CEO of Consumer Lending at Wells Fargo

The takeaway

This study highlights the shifting priorities of younger Americans, who are redefining success and the American Dream in ways that move beyond the long-held focus on homeownership. Businesses and policymakers will need to adapt to these changing attitudes and behaviors to better serve the needs of the next generation.