Michael Micheletti 
The trade-offs are adding up.
Key takeaways:
- Homeownership comes with major costs, but homeowners who are also parents are experiencing different financial challenges – ones that are preventing them from building future wealth, making large financial decisions, expanding their families, and making home repairs or improvements.
- Caregiving has emerged as a top issue, extending beyond the cost of just childcare: 41% of homeowner parents are also financially supporting their parents in some fashion.
- Many homeowners haven’t fully explored the equity options available to them to help address today’s financial priorities.
It’s no secret: Homeowners are facing growing financial pressures in the current economy, as the costs of property taxes, insurance, home maintenance and repairs and renovations escalate. But, according to our latest survey, homeowners who are also parents face even greater hurdles – and it’s prompting tough choices and life realignments that may significantly impact their families, homes and financial futures.
Financial stress around future wealth-building exists regardless of mortgage status. Thirty percent of homeowners without a mortgage and 36% of those still paying one both strongly agree that today’s expenses are holding them back – suggesting mortgage payments alone aren’t the main culprit.
The cost of caregiving: far more than childcare
The cost of caregiving is emerging as a top financial issue, aligned with the reality that both parents now work in most U.S families. Consider that a household with two children under the age of 3 in childcare spends $2,245 a month – almost a third of household income on average.
In addition, 11% of parents have quit a job to become a stay-at-home parent in order to save money on childcare.
The cost of caregiving isn’t just about childcare, either. A staggering 41% of homeowner parents are also financially supporting their parents in some way, meaning they are juggling everyday expenses with the costs and time required to care for two generations. It’s a dynamic that’s earned them the nickname “the sandwich generation.”
The two-sided care is impacting not only current finances, but the financial futures of homeowner parents. More than half (56%) say that caregiving costs, in particular, are impacting their long-term financial plans.
Making hard choices with major impacts
More than two-thirds (66%) of homeowner parents say that rising expenses have outpaced their household income. To manage, they are making major decisions that are shaping their lives, health and homes for years – and in many cases, generations – to come.
Overall, more than 7 in 10 (72%) homeowners are postponing large financial decisions because of ongoing expenses.
Each one of these actions has real consequences, but putting off home repairs and maintenance can escalate all too quickly, with potentially massive impacts on both the wallet and a home’s value.
Is home equity an answer?
Homeowner parents are clearly searching for ways to manage the expenses of caring for their children, their parents and their homes. Home equity, an illiquid asset that is often misunderstood, may offer an answer.
American homeowners now hold nearly $35 trillion in collective home equity, averaging $274,000 for the typical U.S. homeowner. Our survey shows that there is room for homeowner parents to learn more about home equity as a tool to address current financial priorities.
- 40% of respondents do not know for sure how much equity they have in their homes.
- Almost the same number (39%) do not think they would qualify for an option to tap into their home equity.
We also know that refinancing is not a practical option for the majority of homeowners looking to tap their equity. Six in 10 (60%) understandably don’t want to refinance because they are locked into a low mortgage rate. And even among those who believe they have a significant amount of equity built up in their homes, 69% feel they can’t do anything with it unless they refinance or sell.
This tells us that people need more flexibility and may not realize all their options, because homeowners actually have several ways to tap their equity — far more than just refinancing. Viewing home equity as a smart financial tool, as wealth that can be accessed today, can offer a solution for people juggling home, child, and parental responsibilities.
Conclusion
The financial squeeze for homeowners is real – and even more so for homeowners who are parents. Rising costs and competing priorities for the “sandwich generation” are impacting how they allocate their budget, from deferring home maintenance to cutting back on retirement savings.
Home equity may offer a path forward for parents who are making those financial trade-offs, yet many say don’t know or aren’t sure how much wealth they’ve built up in their home. That’s a gap worth closing.
Survey methodology: Unlock commissioned Atomik Research to conduct an online survey of 1,500 homeowner parents of children throughout the United States May 28-June 1, 2026. The margin of error is +/- 2.5 percentage points with a confidence level of 95%. Atomik Research, a part of 4mediagroup, is a creative market research agency.
To download the raw survey data, click here.
