The rising cost of fast food has transformed what was once a convenient, affordable meal option into a luxury for many Americans. A recent nonprobability survey conducted by LendingTree found that 78% of consumers now consider fast food to be a “luxury” due to its increased expense.

This perception is particularly prevalent among financially struggling individuals, with 71% of those making less than $30,000 a year, 58% of parents with young children, and 58% of Gen Zers viewing fast food as a luxury.

Americans’ love for fast food remains strong, but the high prices are causing many to cut back on their consumption. Although 75% of Americans typically eat fast food at least once a week, 62% reported they are eating it less frequently due to the rising costs.

This shift is underscored by the fact that 63% believe fast food should be cheaper than dining at home, yet 75% feel that it is not.

Moreover, nearly half of the survey respondents (46%) noted that a fast-food meal costs about the same as one at a local sit-down restaurant, with 22% stating that fast food is actually more expensive.

This sentiment reflects the significant price increases fast food has seen in recent years. Data from the Federal Reserve Bank of St. Louis reveals that the cost of fast-food meals has surged by 41% since 2017, outpacing the consumer price index, which rose by 35.9% over the same period.

This trend of fast food becoming more of a luxury item is further illustrated by specific examples such as the McDouble and McChicken sandwiches from McDonald’s, which have seen price increases of 168% and 200% respectively over the past decade.

As a result, many Americans are rethinking their fast-food habits and considering more cost-effective meal options.

Columnist Dan O’Donnell of the free market think tank the MacIver Institute highlighted the significant price increases in basic fast food items like McDonald’s cheeseburgers and Chick-fil-A nuggets, which have risen as much as 200% in less than five years.

In his blog post, O’Donnell emphasized the dire consequences of these price hikes for lower- and middle-class families, who make up much of the fast food customer base.

O’Donnell noted that fast food patrons are generally lower-income earners, many with young children, who rely on quick, affordable meals to accommodate busy schedules.

He pointed out that when the cost of a family meal at fast food restaurants spikes from $35-$40 to $65-$70 within a few years, these families are forced to either sacrifice dining out or stretch their budgets further to afford it.

The LendingTree survey echoed this sentiment, with 56% of respondents indicating they now turn to making food at home as their go-to for an easy, inexpensive meal.

This shift towards home-cooked meals is particularly pronounced amid the current cost-of-living crisis, which has seen lower-income customers opt out of dining at global restaurant chains like McDonald’s and Starbucks. In response, these companies are offering steeper promotions to lure customers back.

For instance, Wendy’s has introduced a $3 budget-friendly breakfast meal, and McDonald’s plans to roll out a $5 combo meal in June, both for a limited time. These promotions aim to provide more affordable options for customers who are increasingly finding fast food to be a luxury they can no longer afford regularly.