{"id":78738,"date":"2024-10-24T05:30:19","date_gmt":"2024-10-24T12:30:19","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=78738"},"modified":"2024-10-23T10:41:38","modified_gmt":"2024-10-23T17:41:38","slug":"survey-homeowners-renters-support-rent-hikes","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/survey-homeowners-renters-support-rent-hikes\/","title":{"rendered":"Roughly 4 in 5 U.S. Residents Believe There Should Be Caps on Rent Hikes: Survey"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">The vast majority of respondents to a recent Redfin survey believe there should be caps on the amount landlords are allowed to increase rent, regardless of whether they\u2019re Democrats or Republicans, and regardless of whether they own or rent. Redfin economists say rent control worsens housing affordability in the long run.\u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">More than four of every five U.S. residents (82%) believe there should be caps on the amount landlords are allowed to increase rent.\u00a0<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-78739 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-21-135121.png\" alt=\"\" width=\"619\" height=\"536\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-21-135121.png 619w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-21-135121-300x260.png 300w\" sizes=\"(max-width: 619px) 100vw, 619px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The survey data in this report is from a Redfin-commissioned survey conducted by Ipsos in September 2024. The survey was fielded to 1,802 people aged 18-65, including 188 who live in California. This report focuses on the following question: <\/span><i><span style=\"font-weight: 400;\">How much do you agree or disagree with the statement below? There should be caps on the amount landlords are allowed to increase rent. <\/span><\/i><span style=\"font-weight: 400;\">Respondents could select strongly agree, somewhat agree, neither agree nor disagree, somewhat disagree or strongly disagree. For this report, we grouped the \u201cstrongly agree\u201d and \u201csomewhat agree\u201d answers, and we grouped the \u201cstrongly disagree\u201d and \u201csomewhat disagree\u201d answers.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Caps on rent increases, also known as rent control, give governments the authority to put a lid on how much landlords are allowed to increase rent each year. The White House proposed a <\/span><a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/07\/16\/fact-sheet-president-biden-announces-major-new-actions-to-lower-housing-costs-by-limiting-rent-increases-and-building-more-homes\/\"><span style=\"font-weight: 400;\">federal rent control policy<\/span><\/a><span style=\"font-weight: 400;\"> in July; the policy would cap rent increases on existing units at 5% nationwide. Only <\/span><a href=\"https:\/\/www.naahq.org\/rent-control-policy\"><span style=\"font-weight: 400;\">seven states<\/span><\/a><span style=\"font-weight: 400;\"> and Washington, D.C. currently have state or local rent control policies in place.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The vast majority of respondents believe there should be caps on the amount landlords are allowed to increase rent, regardless of their political affiliation or whether they own or rent the home they live in:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">86% of\u00a0 respondents who identified themselves as Democrats believe there should be caps on the amount landlords are allowed to increase rent, compared with 79% of respondents who identified as Republicans.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">86% of renters believe there should be caps, compared with 78% of homeowners.\u00a0<\/span><\/li>\n<\/ul>\n<h3>Redfin economists say rent caps can increase rental costs because they make the supply shortage worse<\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Although most of the people surveyed support rent caps, <\/span><a href=\"https:\/\/www.redfin.com\/news\/rent-cap-worsen-housing-affordability\/\"><span style=\"font-weight: 400;\">Redfin economists say<\/span><\/a><span style=\"font-weight: 400;\"> that in reality, rent caps increase costs in the long run.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cRent control sounds appealing for renters in theory because it limits price increases and saves money in the short term, but it eventually worsens rental affordability because it exacerbates the supply shortage,\u201d said <a href=\"https:\/\/www.redfin.com\/news\/author\/chen-zhao\/\">Chen Zhao<\/a>, Redfin\u2019s economic research lead. \u201cIf rent increases are capped below the amount developers would need to make a profit, they have little incentive to build more apartments and homes. The best way to make rentals more affordable is to build more units.\u201d\u00a0<\/span><\/p>\n<h3>78% of Californians support rent control<\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Nearly four of every five respondents who live in California (78%) believe there should be caps on rent increases, similar to the share for the U.S. as a whole.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">California already has statewide rent control: The <\/span><a href=\"https:\/\/oag.ca.gov\/consumers\/general\/landlord-tenant-issues#:~:text=Landlords%20cannot%20raise%20rent%20more,Code%20%C2%A7%201947.12.)\"><span style=\"font-weight: 400;\">Tenant Protection Act<\/span><\/a><span style=\"font-weight: 400;\"> says landlords may not raise rent more than 5% plus the increase in cost of living (inflation) each year. Rent control is in the news in California in the run-up to the election because there\u2019s a <\/span><a href=\"https:\/\/sfist.com\/2024\/10\/04\/your-november-ballots-prop-33-rent-control-measure-could-repeal-costa-hawkins-statewide\/\"><span style=\"font-weight: 400;\">proposition<\/span><\/a><span style=\"font-weight: 400;\"> on the November ballot that would allow cities to expand rent control. For instance, city governments could limit annual rent increases to <\/span><i><span style=\"font-weight: 400;\">less <\/span><\/i><span style=\"font-weight: 400;\">than 5%, and the state couldn\u2019t intervene.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The vast majority of respondents to a recent Redfin survey believe there should be caps on the amount landlords are allowed to increase rent, regardless of whether they\u2019re Democrats or Republicans, and regardless of whether they own or rent. Redfin economists say rent control worsens housing affordability in the long run.\u00a0 More than four of [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":78740,"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 center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[563],"tags":[19,697],"dashboard":[],"coauthors":[124],"class_list":["post-78738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rental-market","tag-politics","tag-rentals"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Roughly 4 in 5 U.S. Residents Believe There Should Be Caps on Rent Hikes: Survey<\/title>\n<meta name=\"description\" content=\"The vast majority of respondents to a recent Redfin survey believe there should be caps on the amount landlords are allowed to increase rent, regardless of whether they\u2019re Democrats or Republicans, and regardless of whether they own or rent. 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Redfin economists say rent control worsens housing affordability in the long run.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redfin.com\/news\/survey-homeowners-renters-support-rent-hikes\/","og_locale":"en_US","og_type":"article","og_title":"Roughly 4 in 5 U.S. Residents Believe There Should Be Caps on Rent Hikes: Survey","og_description":"The vast majority of respondents to a recent Redfin survey believe there should be caps on the amount landlords are allowed to increase rent, regardless of whether they\u2019re Democrats or Republicans, and regardless of whether they own or rent. 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