{"id":78700,"date":"2024-10-15T05:00:27","date_gmt":"2024-10-15T12:00:27","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=78700"},"modified":"2024-10-22T11:20:18","modified_gmt":"2024-10-22T18:20:18","slug":"renters-vs-homeowners-housing-affordability-election","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/renters-vs-homeowners-housing-affordability-election\/","title":{"rendered":"Renters Are Nearly Twice as Likely as Homeowners to Say Housing Affordability Impacts Their Pick for President: Survey"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>32% of surveyed renters say housing affordability is a top-three issue when it comes to deciding which presidential candidate they\u2019ll support. That compares with 17% of homeowners.<\/i><\/strong><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>The economy, inflation and health care are the most common top-three issues for survey respondents as a whole.<\/i><\/strong><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>52% of surveyed homeowners say they\u2019re better off financially than they were four years ago, compared with 44% of renters.<\/i><\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Nearly one-third (31.6%) of U.S. renters say housing affordability is a top-three issue when it comes to which candidate they\u2019ll support in the upcoming presidential election. That compares with 17.1% of homeowners.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The survey findings in this report are from a Redfin-commissioned survey conducted by Ipsos in September 2024. The survey was fielded to 894 U.S. renters and 805 U.S. homeowners aged 18-65. This report focuses on responses to the following question: \u201cHow important will each of these issues be in your choice of which candidate to support? Please rank, with 1 being the most important issue.\u201d Respondents were asked to rank a list of 14 issues. If they ranked an issue 1, 2 or 3, it is considered a \u201ctop-three issue.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Renters and homeowners answered similarly on most issues, but housing affordability was the exception.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The leading concern among respondents as a whole was the economy, with nearly half (46%) of all respondents listing it as a top-three issue. Next came inflation (40.4%), health care (26.3%), housing affordability (25.1%) and crime and safety (23.5%).<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>\u00a0<\/b><\/td>\n<td><b>Share of overall respondents who ranked it a top-three issue<\/b><\/td>\n<td><b>Share of homeowners who ranked it a top-three issue<\/b><\/td>\n<td><b>Share of renters who ranked it a top-three issue<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">The economy<\/span><\/td>\n<td><span style=\"font-weight: 400;\">46.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">49.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">43.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Inflation<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">39.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Health care<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">27.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Housing affordability<\/b><\/td>\n<td><b>25.1%<\/b><\/td>\n<td><b>17.1%<\/b><\/td>\n<td><b>31.6%<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Crime and safety<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">24.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Immigration<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Protecting democracy<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Gun violence<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Access to abortion<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Climate change<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Freedom of speech<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">US&#8217; standing in the world<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">US involvement in foreign wars<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Access to gender affirming care<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.1%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Many Americans broke into homeownership during the pandemic thanks to record-low mortgage rates, but many others were <\/span><a href=\"https:\/\/www.redfin.com\/news\/income-needed-to-afford-home-february-2024\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">priced out<\/span><\/a><span style=\"font-weight: 400;\"> because housing prices surged due to sky-high demand. Now, <\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">elevated<\/span><\/a><span style=\"font-weight: 400;\"> mortgage rates are exacerbating those high prices and making it difficult for first-time buyers to afford a home. That\u2019s one reason renters are focused on housing affordability during this year&#8217;s election cycle, Redfin Chief Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/darylfairweather\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Daryl Fairweather<\/span><\/a><span style=\"font-weight: 400;\"> explained. It\u2019s worth noting t<\/span><span style=\"font-weight: 400;\">hat <\/span><a href=\"https:\/\/www.redfin.com\/news\/income-needed-to-afford-starter-home-declines\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">starter-home prices<\/span><\/a><span style=\"font-weight: 400;\"> are lower than they were a year ago but remain well above pre-pandemic levels.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Just over half (52.1%) of surveyed homeowners said they\u2019re better off financially than they were four years ago, compared with less than half (44.2%) of renters. That discrepancy is partly the result of soaring housing prices that helped homeowners build a lot of equity, Fairweather said.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Harris voters were slightly more likely than Trump voters to rank housing affordability as a top issue. One-quarter (25.1%) of respondents who plan to vote for Kamala Harris ranked housing affordability as a top-three issue, compared with 20.4% of respondents who plan to vote for Donald Trump. That\u2019s likely because Democrats are <\/span><a href=\"https:\/\/en.wikipedia.org\/wiki\/Left_Coast#:~:text=The%20implication%20is%20that%20with,Washington%2C%20and%20most%20of%20Hawaii.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">more likely<\/span><\/a><span style=\"font-weight: 400;\"> to live in expensive coastal areas.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>32% of surveyed renters say housing affordability is a top-three issue when it comes to deciding which presidential candidate they\u2019ll support. That compares with 17% of homeowners. The economy, inflation and health care are the most common top-three issues for survey respondents as a whole. 52% of surveyed homeowners say they\u2019re better off financially than [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":78453,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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