11 Things Average People Won’t Be Able To Afford In Just A Few Years
You're not alone if you're already struggling to afford these things.
Standret / Shutterstock Whether it’s groceries, utility bills, or rent every month, many people already struggle with affording their basic necessities on the income they bring in. Even for middle-class families making more than $100K a year, many are still living paycheck-to-paycheck, trying to make ends meet, and for some, barely being able to afford their bills seems like a luxury.
That’s why it’s not necessarily surprising that there are so many other things average people won’t be able to afford in just a few years. These are things that would otherwise be easy to afford with a bit of compromise and saving. Not being able to put food on the table or take time off from work is becoming a new norm, so even if it feels like an incredibly personal struggle, at the very least, you’re not alone.
There are 11 things average people won’t be able to afford in just a few years
1. Owning a home
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If you wouldn’t consider homeownership to already be an unaffordable expense for many average Americans, research argues it will become ever more inaccessible for middle-class people in the coming years. Even for people who already have a home or a mortgage, the lack of affordability is rising, according to a report from Harvard’s Joint Center for Housing Studies, as maintenance costs, utilities, property taxes, and insurance all rise alongside it.
However, there’s still some good news alongside financial stability. According to financial educator Ellyce Fulmore, renting can be a more affordable alternative to homeownership, largely removing the maintenance and routine costs that other homeowners are struggling with on a routine basis.
Like many of the other things average people won’t be able to afford in just a few years, there are other options available, but they often take a level of financial literacy, frugality, and intention to secure them.
2. Owning a car
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Especially for people who don’t have urban public transportation options or walkable alternatives, the burden of owning a car is more intense than ever. With the average cost of simply owning a car being more than $1K monthly, it’s no surprise that people already struggling with other basic necessities are finding it harder to just get to work every day.
According to a study from the Ludwig Institute for Shared Economic Prosperity, the average American four-person household now needs an annual income of more than $120K to afford just the necessities like groceries, transportation, and childcare. So, even for families that are spending on public transit passes in big cities, instead of owning a car and dealing with its maintenance costs, transportation is still becoming more accessible every year.
3. Retirement
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Retirement is one of the things average people won’t be able to afford in just a few years, and for many people, this prediction is already a reality. Not only are older individuals losing net value and wealth as they age, they’re also spending more on the basic necessities they need to live, including medical bills, transportation, accessibility, and shelter.
Alongside a slew of other obstacles, like a rising need for specialization in the workforce and poor access to healthcare, older people are stuck between a rock and a hard place, unable to work to afford necessities like medical treatment, but unable to afford basic expenses without a job.
4. Comprehensive healthcare
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A KFF survey found that nearly 50% of American adults find it difficult to afford healthcare costs, with almost the entire group arguing that preventative care, like nutrition support, medications, vaccines, and screenings, is out of the question. Not only that, people who struggle to afford care are more likely to put off necessary visits, which puts their long-term health and well-being at stake.
So, healthcare and insurance may become unaffordable for average people in just a few years, but they’re already struggling, taking on debt, sabotaging their general health, and putting off necessary procedures and visits to afford things like rent or groceries.
5. Higher education
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In the past several decades, the price of attending college rose by over 118% after being adjusted for inflation, according to the Education Data Initiative. While there are some options for funding, scholarships, and financial aid to help students from low-income backgrounds afford higher education, with recent shifts in public funding and support, it’s growing more unaffordable every day.
Not only that, as other basic necessities and expenses rise in cost, like groceries or rent, students who already accept financial aid or help for tuition costs will find it even more difficult to support themselves while they’re in school. So, yes, education is one of the things average people won’t be able to afford in just a few years, but it’s the same institution that’s already been difficult to navigate for low-income students.
6. Healthy food
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According to a study from the BMC Public Health journal, income and nutrition are already linked, with low-income households spending less on more expensive healthy and nutritional options than their wealthy counterparts. But, moving forward, this gap will only continue to widen, as healthy food becomes more unaffordable over the next few years.
Even in the last few years alone, as a 2023 study argues, the prices of nutritional food options rose exponentially more than less healthy alternatives. So, whether you’re shopping at Whole Foods, a farmer’s market, or a convenience store around the corner, purchasing things like fresh produce, organically grown meats, and other nutritional options will become more expensive, especially now that restrictions and funding in these industries are growing weaker.
7. Going out to eat
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Of course, food and eating out have grown more expensive over the last few years, incentivizing people to consider going out “a luxury” and instead eating most of their meals at home. But it’s not just the restaurant expenses and menu prices that are making it unaffordable. It’s transportation, childcare, and time that are growing increasingly inaccessible.
Like many other things that average people won’t be able to afford in just a few years, it’s a combined picture of expenses. If you’re overspending on rent and grappling with rising grocery costs, going out once a week is clearly unaffordable.
8. Home renovations
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Alongside general maintenance costs of owning a home, like fixing broken appliances and affording utility costs, which are already growing more unaffordable, home renovations are one of the things average people won’t be able to afford in just a few years.
According to a report from Harvard’s Joint Center for Housing Studies, these kinds of renovations, especially when they’re unexpected, from natural disasters or necessary safety changes, are huge burdens for low-income people already. But, as housing costs and other expenses become more unaffordable for everyone, it’s growing increasingly inaccessible for even the middle class.
9. New clothing
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New clothing is one of the things average people won’t be able to afford in just a few years, largely because of shifts in accessibility, consumer culture, and quality. Prices are obviously rising already for new clothing, which is why many people in low-income households resort to secondhand alternatives, but it’s becoming a larger issue alongside industry changes and e-commerce.
Largely because of shifts in consumerist culture and amid the rise of fast fashion, the quality of clothing has also decreased in recent years, urging the average consumer to spend more in their lifetime on replacement and new clothing. So, even as low-income people already struggle with spending on necessary items at secondhand stores and thrift shops, the accessibility of clothing that will truly stand the test of time is continuing to worsen.
10. Utilities
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Even for people who are currently renting, rather than owning a home, utility costs are a huge burden on their monthly expenses. According to the U.S. Bureau of Labor Statistics, electricity prices are up nearly 6% from last year alone, with other things, like trash, water, and internet, quickly following suit.
Even if they are slightly small shifts of a few dollars every month, the long-term consequences of spending $100 more annually on electricity alone can be burdensome, especially to already low- and middle-income families struggling with other necessities.
11. Mental health services
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Whether it’s psychiatric care or therapy, mental health services are one of the things average people won’t be able to afford in just a few years. Alongside physical health screening and other preventative care options, many people already struggle to afford this kind of care, with high deductibles, limited time in their schedules for taking off work, or no insurance coverage options at all.
Of course, part of the reason why this care is so expensive is that many providers don’t accept traditional forms of insurance, according to Harvard’s Center for Primary Care. So, as more people struggle with bills, expenses, and necessities, it’s these seemingly less critical choices that get tossed under the rug for a later date, often until it becomes impossible to ignore.
Zayda Slabbekoorn is a staff writer with a bachelor’s degree in social relations & policy and gender studies who focuses on psychology, relationships, self-help, and human interest stories.
