Renters Rank Housing Affordability as a Top Issue in the Presidential Election

For Rent sign on Madison and Del Mar (Photo – Rob G.)

Nearly one-third (31.6%) of U.S. renters say housing affordability is a top-three issue when it comes to which candidate they’ll support in the upcoming presidential election, according to a new survey from Redfin real estate brokerage.

By News Desk

Redfin published three separate reports about the intersection of housing and the upcoming presidential election, based on a survey in September 2024, which was sent to 1,802 people aged 18-65:

The first report focuses on which issues are important to renters and homeowners when it comes to which candidate they’ll support in the election.

• 31.6% of renters said housing affordability is a top-three issue, compared to 17.1% of homeowners.
• Kamala Harris voters were slightly more likely than Donald T. voters to rank housing affordability as a top issue.
• Over half (52.1%) of surveyed homeowners reported feeling better off financially than four years ago, compared to less than half (44.2%) of renters. That discrepancy is partly because soaring housing prices have helped homeowners build home equity.

The second report focuses on the house hunters who are waiting until after the election to buy a home.

• Nearly one-quarter (23%) of prospective first-time buyers are waiting until after the election.
• Over a quarter (26.1%) of prospective first-time homebuyers are waiting to see if Harris’ housing plan—which includes $25,000 in downpayment assistance for some buyers—goes into effect before they purchase a home.
• Nearly one in six (15.9%) are waiting to see if Tr.’s plans for tackling “issues with affordable housing” are enacted.

The third report focuses on which candidate homeowners believe would be best for keeping home values high.

• 41.6% of those who responded believe Donald T. would be best for keeping home values high, while 35.3% believe Kamala Harris would be best.