Why some young Americans are dating less in 2026

For many young Americans, dating is becoming as much about finances as it is love.

Half of single Americans surveyed said they are going on fewer dates or choosing less expensive jobs because of rising costs, according to BMO Financial Group’s 2026 BMO Real Financial Progress Index. The bank polled 2,501 adults between late December and January.

Not only that, but 48% of Gen Z adults and 40% of millennials surveyed say the high cost 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.

Almost half of singles, 47%, said dating is not worth the cost, according to the survey.

It’s just one affordability pressure among many these days. Consumers are facing higher costs for everyday essentials like gas, groceries, housing and health insurance — reflecting a combination of factors including energy shocks related to the ongoing war with Iran and President Donald Trump’s tax policies.

“We’re seeing that there’s this increase in the cost of living, and it’s reducing our frequency of dating and how we see or perceive dating,” Sabrina Romanoff, a clinical psychologist, told CNBC. “We’re seeing people eat fewer dinners and there’s a lower tolerance for high-risk meetings.”

For Gen Z, the cost of dating can add up quickly.

The average Gen Z American went on about nine days a year earlier, according to BMO data. That puts their annual income at about $1,845. That’s math includes costs leading up to the date, including transport and maintenance, and what was actually spent during the date.

Using Bureau of Labor Statistics data on full-time workers, that would amount to about 3% to 5% of the median annual income of workers ages 16 to 34.

Romanoff said the rising costs are making people fall in love “more defensively,” adding: “They’re taking fewer chances and making fewer connections.”

That dynamic shows up in how new daters talk about the first dates.

David Kuang, a 21-year-old Columbia University student, said the dating economy can make going out feel like a gamble.

“There are many possibilities that something will click,” he said. “Then your $40 dinner bill goes down to someone you may never talk to again.”

Leo Gabriel, a 22-year-old who lives in New York City, also said he tries to keep early dates accessible.

“I’ll spend about $45 to $50,” he said. “Just don’t break the bank.”

Overall, Gabriel said, he budgets about $150 to $200 a month for dating.

“Why would I spend $100 on someone I might not even have a crush on?” he added.

The cost of dating itself is part of the story. For millions of users, getting a date means paying for apps. The Pew Research Center found in 2022 that 35% of dating app users paid for one of the platforms. A study from Morgan Stanley found that paid app users will spend about $19 per month by 2023.

“Many of these apps operate on a so-called ‘freemium’ premium strategy,” said Pinar Yildirim, an associate professor at Wharton who studies the economics of the Internet platform. “Although you can register for free, to be able to use some of the more desirable features, you may have to pay a subscription fee.”

That model has become more important as Americans have changed the way they socialize. A widely cited 2019 study from researchers at Stanford University and the University of New Mexico found that from the end of World War II until 2013, the most common way straight couples met in the US was through friends. Now, the dominant way is online.

“One of the things is online dating apps and online dating platforms in general [have] able to bring into our life a large range of people,” said Yildirim. “They usually increase the size of our ponds.”

But, he added, that also “can be a little tricky.” A large number of candidates can overwhelm users and reduce the likelihood that the interaction will turn into something meaningful.

“Even though you can see and start conversations with a lot of people, a lot of different types and a lot of people, you probably won’t get into anything beyond those initial conversations with those people on the apps,” he said.

Experts say that may help explain why many users prefer the paid version of the dating app. “It’s a pay-to-play system,” Romanoff said. “And if you have money, you’ll be able to maybe find a partner, or you’ll be able to have more success on dating apps.”

Gabriel said he signed up for Hinge briefly because the “gamification” of paid development, as he called it, was working well.

“Ideologically, it works,” he said. “You can say, oh, you’re only going to be seen by X people a day. But if you pay us little by little, you get to see a lot of people.”

But the cost of developing a dating app can vary, and consumer advocates say the price is unclear.

A spokeswoman from Match Group — the parent company of Match.com, OkCupid, Tinder, Hinge and other dating sites — told CNBC by email that the “vast majority” of users on their sites use the free versions. “Subscriptions are optional and provide additional tools for those who want more control or a more efficient experience, but are not required to be successful or make meaningful connections,” they said.

Bumble Inc., whose apps include Bumble Date and Badoo, told CNBC that it aims to provide a “safe and high-quality” free environment. “There are many lovers who found each other this way,” a spokesman said in an emailed statement. “Our premium features cater to those in our community who want a more tailored experience.”

– CNBC’s CJ Haddad and Isabel Iino contributed reporting.