Are they slaves forced to work for their local lord? Probably not in this time in the US - "the only option" is not a credible hypothesis.
At least a feudal lord had obligations to their subjects.
Since many (most?) people in the US cannot afford the land and other resources necessary to provide for themselves (e.g. via farming or craftsmanship), I'm not sure that it's unfair to draw a parallel between them and serfs.
It's really not that uncommon for people outside of major cities to own their home?