Van life has surged in popularity among 25- to 45-year-olds, especially young professionals, digital nomads, or couples seeking adventure. In the U.S., the number of van-lifers increased 63% from 1.9 million in 2020 to 3.1 million in 2022. Whether you crave freedom on the road or the stability of a permanent home, here’s what each lifestyle really costs.

Upfront investment.

• Van life: A van suitable for full-time living typically costs between $41,000 and $66,000. Converting it yourself can add $10,000–$20,000, while professional builds can exceed $100,000.
• Homeownership: On the other hand, as of May 2025, the median U.S. home price was $440,000, with a 20% down payment of $88,000, and closing costs can add a few thousand dollars.
• The key question: Do you value freedom and mobility now, or are you seeking long-term financial stability? Buying a home demands upfront investment but builds equity over time, while van life provides immediate lifestyle change with lower long-term value.

Monthly living expenses.

• Van life: Monthly costs can range from $1,000 to $3,000, depending on how often you travel and where you stay. Common expenses include gas, food, insurance (typically $100 to $200 per month), Wi-Fi, gym memberships for access to showers, and campsite fees.
• Homeownership: The average monthly cost is around $1,550, including mortgage payments, utilities, property taxes, and insurance. Although usually more predictable than van life, these expenses can vary widely, depending on your location, loan terms, and energy usage.

Maintenance and repairs.

• Van life: Basic upkeep runs between $500 and $1,000 annually, though unexpected repairs like replacing tires and water pumps or addressing electrical issues are common. Additionally, full-time van insurance costs are typically $2,000 per year, covering both the vehicle and its contents. Rates can vary based on how the van is used and how it’s classified, such as an RV or personal vehicle.
• Homeownership: While maintaining or upgrading your home can be costly, it can increase your net worth since homes typically appreciate over time. For example, replacing a roof may cost $10,000 to $15,000, but it can boost the resale value and prevent expensive structural damage later.

Key takeaway.

If you’re considering van life, it’s important to understand your monthly budget, how it fits into your overall financial picture, and whether it could impact your long-term goals. Whether you choose to buy a home or hit the road, your short-term and long-term financial goals should be a deciding factor.  

Homeownership resources.

If van life doesn’t feel like the right fit, there are valuable resources to help you purchase your first home.

• Low-income housing programs¹
• Homeownership education

Your decision ultimately comes down to what kind of life you hope to lead and how you want to invest your time and money. For more housing tips and tricks, visit the Homeownership page at efirstbankblog.com.

FirstBank Member FDIC. Equal Housing Lender. NMLS ID#458768.

1. In order to be eligible for this program, the buyers’ annual income (including asset income) shall not exceed 80% of the Median Family Income, as determined by HUD.  Ask a FirstBank loan officer for additional information.

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Published: September 22, 2025