The cost of celebrating your best friend’s big day now rivals the price of keeping a roof over your head. A new Zillow Rentals analysis finds that attending just one wedding and a bachelor or bachelorette weekend can set you back about $2,010 (The Knot, Bankrate). That’s comparable to the typical U.S. monthly rent of $2,072. In fact, celebrating a single wedding costs more than a month of rent in nearly 70% of the largest U.S. metros.
For Gen Z and millennial renters, the sticker shock of wedding season is real. A new Zillow Rentals survey shows:
- 59% of Gen Z and millennials attended at least one wedding in the past year.
- 28% attended two or more.
- Nearly half of millennials (48%) and more than one-third of Gen Z (36%) attended at least one bachelor or bachelorette party.
Nearly half of Gen Z and millennials (45%) say they’ve made a housing sacrifice to afford these celebrations. The most common trade-offs include renting or buying a smaller home (15%) and living with roommates (11%). One-quarter (25%) say they’ve declined to attend at least one wedding event because of the cost.
“This data highlights a generation making tough choices and facing a unique set of financial pressures,” said Emily McDonald, Zillow Rentals expert. “Celebrating friends and their big life milestones is important and meaningful, so it’s critical that renters approach wedding season with intention. Set a realistic rent budget, prioritize the events that matter most, and get creative to cut costs and keep financial goals on track.”
It’s an expensive stage of life. The median age of renters who moved in the past year is 33, nearly identical to the U.S. median age of marriage (32). Many young adults are juggling rent, student loans, saving for the future, and wedding celebrations all at once. Still, there are ways to manage the cash crunch:
- Put rent first. Before booking flights or buying gifts, set a realistic rent budget. Zillow’s Rent Affordability Calculator can help renters figure out what’s comfortable for their income and lifestyle so wedding season doesn’t push them over the edge.
- Plan ahead and look for deals. Anticipating a busy wedding season? Before signing a new lease, seek out concessions like free parking or a month of free rent. Zillow’s latest rental market report finds a record number of rentals offered a concession in July (36%), so be sure to ask what deals are available.
- Make paying rent work for you. Eligible renters who make their on-time rent payments through Zillow can have those payments reported to credit bureaus. This can help build credit and pave the way for future financial wins.
- Get creative with celebrating. Split costs with friends, attend just part of a bachelor(ette) weekend or offer a thoughtful nonmonetary gift, such as helping with setting up the wedding day. The memories will still mean just as much.