Gravity compensation is a key requirement for achieving three-dimensional navigation of magnetic microrobots in fluids. Here we present a brief theoretical introduction to the issue of gravity compensation in the case of magnetic “pulling” propulsion, explicitly highlighting the constraints it introduces. Therefore, we evaluate the advantages that quasi-neutral buoyancy gives to hydrogel microrobots, demonstrating that despite their relatively weak magnetic properties, for certain size/velocity ranges they could be more easily and efficiently propelled than state-of-the-art metal microrobots. Hence, our analysis endorses the adoption of smart polymers, such as stimuli-responsive hydrogels, for developing truly multifunctional magnetic microrobots.