Mortgage rates and home prices have leveled off in 2026, yet the dream of homeownership can still feel out of reach. Amid continued affordability challenges, those brave enough to enter the housing market are finding creative ways to make the numbers work, according to the fourth annual Spring Homebuying Survey from U.S. News.

More than half of homebuyers (57%) are taking on additional work or a side hustle to deal with higher housing payments, and 37% are planning to purchase a home with someone other than a spouse or partner — such as a friend, sibling or parent — to split the cost. Eleven percent say the majority of their down payment is coming from parents or family. In other words, about one in nine homebuyers are turning to the bank of mom and dad for help with their mortgages.

Between April 20 and 24, 2026, U.S. News ran a nationwide survey of 1,207 Americans planning to buy a home this year using a mortgage. We asked respondents a series of questions to gauge how their affordability concerns are impacting their homebuying plans. Here’s what we found:

— About two-thirds of homebuyers (62%) are waiting for rates to fall before buying a home in 2026. That’s much lower than in last year’s survey, when 80% of respondents said the same. This suggests that consumers are finally becoming accustomed to rates above 6%, five years after the ultralow rates in the COVID-19 pandemic era.

— The same amount (62%) say they put off buying a home in 2025 because they were waiting for lower rates. In last year’s survey, three-quarters of respondents (76%) said they put off buying a home in 2024. Again, this result implies that fewer buyers are waiting on the sidelines for rates to fall.

— Fifteen percent of respondents plan to purchase a home with a friend to split the cost. Additionally, 12% are buying with a parent and 9% are bunking with a sibling. All told, more than a third (37%) are planning to purchase with someone other than a spouse or partner.

— The majority of homebuyers (57%) are taking on additional work or a side hustle specifically to qualify for a larger mortgage or cover a higher monthly payment.

— Most homebuyers (52%) are tapping their personal savings to cover their down payment, but a significant cohort is leaning on their village for help. One in nine respondents (11%) say the majority of their down payment is coming from parents or family members. Additionally, a fifth of baby boomers (20%) are tapping retirement funds to buy a home.

— More than a fifth (22%) are moving out of state. Among them, respondents are most commonly leaving New York (15%), California (11%) and Texas (7%), while most commonly moving to Florida (13%), New York (11%) and California (6%). If they could move to any state, homebuyers most commonly said Florida (14%), California (11%) and Hawaii (7%).

Rate Reality Check: Homebuyers Are Finally Giving Up Hope for 3%

It’s been five years since 30-year mortgage rates hit a record low of 2.65% in January 2021, per Freddie Mac. In that time, rates rose rapidly in 2022 and 2023 to nearly 8% before gradually declining to the low-6% range ahead of the 2026 spring homebuying season.

When we first started running this survey in 2023, 66% of buyers were waiting for mortgage rates to drop before home shopping, and in 2024, 67% said the same. In a surprising jump in 2025, 80% of homebuyers were holding out for lower rates — and 76% put off buying a home the year prior because they were waiting for rates to fall.

This year’s homebuyers were less motivated by lower rates. Just 62% are waiting for rates to drop before buying, and the same number (62%) put off buying a home in the past year because they were waiting for rates to fall. Among them, 41% regret putting off their home purchase.

Still, some homebuyers are overly optimistic about their mortgage rate expectations in 2026. When asked how far mortgage rates need to fall before entering the market, 31% said below 5%, and 11% said below 4%. In reality, 30-year mortgage rates are expected to stay above 6% for the foreseeable future, according to industry experts.

But that’s OK because many homebuyers are willing to be patient for the right rate. While 38% aim to buy a house within three to six months regardless of interest rates, half (50%) are willing to wait more than six months for rates to fall before buying a home.

Additionally, two-thirds (68%) plan to refinance at a lower rate in the future. That’s down meaningfully from last year’s survey, when 73% were planning to go the “buy now, refi later” route.

2026 Buyers Get Creative With Roommates, Side Hustles and Buydowns

Forget the traditional American household of mom, dad and two-and-a-half kids. The modern homebuying family now includes besties, in-laws and adult siblings, at least for a solid portion of this year’s homebuyers.

More than a third of respondents (37%) are planning to purchase a home with someone other than a spouse or partner, including 15% who are buying with a friend, 12% with a parent and 9% with a sibling.

Getting a mortgage with a friend or a nonspouse family member is legally allowed. Importantly, all parties on the mortgage are jointly responsible for the full mortgage payment — so if your roommate stops paying, you’re on the hook for the rest. We recently shared some tips for co-buying with friends, a few of which include:

— Fully disclosing your finances first. One expert recommends pulling each other’s credit reports.

— Renting together before buying a home together. After all, it’s easier to get out of a lease than a mortgage.

— Having a written agreement for house rules. You should also determine how to split shared expenses.

However, recruiting a roommate isn’t the only way 2026 homebuyers are increasing their purchasing power. More than half (57%) say they are taking on additional work or a side hustle to qualify for a larger mortgage or cover a higher monthly payment.

Keep in mind that lenders typically require two years of self-employment income to qualify for a mortgage. So while delivering food on the side might help you manage housing expenses better, you’ll need to do it for a while before it counts toward your income in the eyes of the bank.

[SEE: Current Mortgage Refinance Rates]

Where Homebuyers Want to Move in 2026

New to this year’s survey, we asked homebuyers where they are moving to gauge migration trends — as well as where they would move if they could relocate to any state in the U.S.

The majority of homebuyers stay within their state when they move, but about a fifth (22%) are planning an interstate move.

Homebuyers are most commonly moving from New York (15%), California (11%) and Texas (7%). They’re most commonly moving to Florida (13%), New York (11%) and California (6%).

Most of these responses aren’t necessarily surprising, since they include the top four most populous states in the country. However, it’s worth noting that Florida has positive net migration — in other words, more people moving there than moving away — while California, New York and Texas have negative net migration.

The top-three most desirable states among 2026 homebuyers are warm climates that double as vacation destinations for many Americans: Florida (14%), California (11%) and Hawaii (7%). With Florida being the most desirable state and the state with the highest net migration, it seems like a lot of homebuyers will be making their dreams a reality in 2026.

_{This piece was edited by Tracy Stewart and reviewed by Whitney Wyckoff.}

More from U.S. News

Co-Buying a House with Friends: How Mortgages and Ownership Work

3 Ways to Get a 5% Mortgage Rate in 2026

The Secret to a Sub-6% Mortgage Rate: Buydowns, Explained

Faced With Affordability Challenges, 2026 Homebuyers Get Creative originally appeared on usnews.com