GREENVILLE, NC (WNCT) — A new study from Craft Jack shows that nearly 3 in 4 renters expect their rent will become more expensive in 2023 due to inflation after 58% said that their rent had already increased in the past year.

Over 1,000 Americans were surveyed for the study, and 61% of them said they could not afford to buy a home while one in five believe buying a home will never be in the cards for them.

Almost one in five, though, do have plans to make a home purchase within the year. Of those home buyers, 30% are buying a home for the first time and 55% of Americans in the market for buying will search for their place on Zillow.

While others are thinking of making big purchases, 60% of renters said that they are struggling because of inflation and 40% say that rising interest rates will determine whether they will purchase a home in 2023.

Click here to view the full survey.