This is Part 2 of our Featured Series on the Ever-Evolving American Dream.
If you haven’t yet, Read Part 1 here.
The American Dream has long been a foundational belief in the United States, but its attainability is increasingly questioned. A recent Pew Research Center survey of 8,709 U.S. adults reveals that while many still believe in the American Dream, skepticism is rising, particularly among certain demographics.
Modest Differences
While race, ethnicity, political affiliation, and education influence perspectives on the American Dream, these differences are relatively minor. Across all these demographics, a significant portion of Americans still hold onto the belief that the American Dream is achievable, though their confidence varies slightly based on their background and experiences.
Wider Divides
The most significant disparities in belief emerge across age and income levels. Younger generations and lower-income individuals are far more skeptical about the feasibility of the American Dream, reflecting broader societal concerns about economic inequality and diminishing opportunities.
Age and the American Dream: Older Americans More Optimistic
Age plays a critical role in shaping individuals’ beliefs about the attainability of the American Dream. Older Americans tend to express more optimism about its continued existence, whereas younger generations exhibit increasing doubt.
The survey found that 68% of adults aged 65 and older and 61% of those aged 50 to 64 believe the American Dream is still achievable. These older generations grew up during a time of strong economic expansion, greater job security, and a more accessible path to homeownership, which may influence their positive outlook.
Conversely, only 42% of adults under 50 believe the American Dream remains attainable. Many younger individuals have faced mounting student debt, soaring housing costs, and an increasingly competitive job market, contributing to their skepticism about upward mobility and financial stability.
Higher Income, Higher Optimism
Income level is another major determinant of belief in the American Dream, with financial stability strongly correlated with optimism.
Among upper-income Americans, 64% believe the American Dream is still within reach. Financial security provides greater access to opportunities, including education, homeownership, and career advancement, reinforcing their confidence in the system.
A majority (56%) of middle-income Americans maintain their belief in the American Dream. This group often experiences both economic stability and uncertainty, balancing optimism with the realities of financial challenges.
Only 39% of lower-income Americans believe in the American Dream. Many in this group struggle with rising living costs, stagnant wages, and limited access to wealth-building opportunities, making them more likely to feel that the dream is out of reach.
Key Findings: A Growing Sense of Disillusionment
The Pew Research Center survey revealed a significant shift in perceptions of the American Dream:
- 41% believe the American Dream was once attainable but is no longer possible.
- 6% believe the American Dream was never achievable.
While this is the first time the Pew Research Center has specifically asked about the American Dream in this way, other surveys have consistently shown that a substantial portion of Americans doubt its future. This growing skepticism reflects concerns about economic inequality, social mobility, and the evolving nature of opportunity in the U.S.
Race and ethnicity play a role in shaping perspectives on the American Dream, though the differences are not as stark as those seen in age and income demographics.
Roughly half of Americans in each racial and ethnic group believe the American Dream is still attainable, showing a broad but tempered optimism across racial lines.
Black Americans Are More Likely to Say the American Dream Was Never Possible
One notable exception is that 11% of Black Americans believe the American Dream was never achievable, compared to just 6% of Americans overall. This perspective likely reflects the long history of systemic barriers and economic disparities that have disproportionately affected Black communities.
Partisanship and the American Dream
Political affiliation also shapes perceptions of the American Dream, with Republicans and Democrats expressing differing levels of optimism.
Among Republicans and Republican-leaning individuals, 56% believe the American Dream remains achievable. This optimism aligns with conservative values emphasizing personal responsibility and economic opportunity.
Among Democrats and Democratic-leaning individuals, 50% believe the American Dream is still possible. While still a majority, their lower optimism may be influenced by concerns about systemic inequality and the need for structural reforms to expand opportunity.
Education and the American Dream
Education level also influences belief in the American Dream, with higher levels of education associated with greater optimism.
A majority (57%) of adults with a bachelor’s degree or higher believe the American Dream is still achievable. Education often provides individuals with better job prospects and higher earning potential, reinforcing their belief in upward mobility.
Among those with less education, only 50% believe in the American Dream. Limited access to high-paying jobs and career advancement opportunities may contribute to their skepticism.
Age and Income Differences Within Parties
The survey suggests that differences in belief within political parties are also shaped by age and income. While broad partisan divides exist, younger and lower-income members of both parties are less likely to believe in the American Dream than their older and wealthier counterparts.
The shifting perception of the American Dream reflects broader concerns about economic inequality, generational divides, and shifting societal expectations. While belief in the American Dream persists, it is increasingly tempered by skepticism, particularly among younger and lower-income Americans. As the nation grapples with these evolving perspectives, addressing economic challenges and expanding opportunities will be crucial to restoring faith in the promise of upward mobility and success.
