Why some young Americans are dating less in 2026
For many young Americans, dating is becoming as much about finances as it is romance.
Half of single Americans surveyed said they are going on fewer dates or choosing less expensive activities because of rising costs, according to BMO Financial Group’s 2026 BMO Real Financial Progress Index. The bank polled 2,501 adults in late December through January.
Not only that, but 48% of Gen Z adults and 40% of millennials surveyed said the high price of dating gets in the way of reaching their financial goals. A single date costs Gen Z adults $205 on average and millennials $252 on average, BMO found.
Nearly half of singles, 47%, said dating just isn’t worth the expense, according to the survey.
It’s just one affordability pressure among many these days. Consumers are grappling with higher costs for everyday essentials such as gas, groceries, housing and health insurance — reflecting a mix of factors including energy shocks tied to the ongoing war with Iran and President Donald Trump’s tariff policies.
“We’re seeing that there is this increased cost of living, and it’s lowering our dating frequency and how we’re seeing or perceiving dating,” Sabrina Romanoff, a clinical psychologist, told CNBC. “We’re seeing people have fewer dinners out and there’s a lower tolerance for higher-risk meetups.”
Costs make people date ‘defensively’
For Gen Z, the cost of dating can add up quickly.
The typical Gen Z American went on about nine dates in the prior year, according to BMO’s data. That puts their annual outlay at roughly $1,845. That tally encompasses the costs leading up to the date, including transportation and grooming, as well as what’s actually spent during the date.
Using Bureau of Labor Statistics data for full-time workers, that would amount to roughly 3% to 5% of median annual income for workers ages 16 to 34.
Romanoff said rising costs make people date “much more defensively,” adding: “They’re taking fewer chances and fewer connections are formed.”
That dynamic shows up in how young daters talk about first dates.
David Kuang, a 21-year-old Columbia University student, said the economics of dating can make every outing feel like a gamble.
“There’s such a higher chance that something doesn’t click,” he said. “And then there goes your $40 dinner bill down the drain on someone that you might never talk to again.”
Leo Gabriel, a 22-year-old living in New York City, also said he tries to keep first dates affordable.
“I would probably spend around $45 to $50,” he said. “It’s enough not to break the bank.”
Overall, Gabriel said, he budgets around $150 to $200 a month for dating.
“Why would I spend $100 on someone I might not even vibe with?” he added.
Finding a date can be expensive, too
The cost of dating itself is only part of the story. For millions of users, finding a date means paying for the apps. Pew Research Center found in 2022 that 35% of dating app users have paid for one of the platforms. Research from Morgan Stanley…