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Three-quarters of adults in America believe the lack of affordable housing is a significant problem for the nation, according to a new survey that Morning Consult conducted for the Bipartisan Policy Center and the National Housing Conference.
Some 65 percent of adults said housing has become less affordable in their communities over the past year, and 52 percent report an increase in homelessness over the same period. Nearly half of renters have struggled to pay their rent in the past year, with a quarter missing rent or mortgage payments and 32 percent falling behind on utility bills.
With housing affordability top of mind for so many families, it is unsurprising that the survey shows Americans of both parties are eager for their leaders to act. More than three-quarters of Democrats and Republicans want President Joe Biden and presumptive Republican nominee Donald Trump to increase affordable housing supply, address high housing costs, lower mortgage rates, significantly reduce homelessness, and support aging in place for older adults.
Our organizations have been working on solutions to the nation's housing challenges and we're encouraged by the strong bipartisan support for some key measures we've endorsed. They include funding state and local programs that help low-income renters avoid eviction, increasing vouchers for low-income families to rent in neighborhoods with good schools and greater opportunities, providing more tax credits to encourage developers to build affordable apartments and renovating homes for sale in distressed communities, and incentivizing local communities to remove zoning and land use restrictions to enable more housing development.
We recognize there are just a few days left on the congressional calendar this year to enact legislation. But, if nothing else, lawmakers must make housing a top priority next year, regardless of the outcome of the fall elections. The good news is that several meaningful measures are already pending in Congress. The Affordable Housing Credit Improvement Act and the Neighborhood Homes Investment Act both enjoy strong bipartisan support and would significantly increase the supply of affordable homes for rent and sale.
The Morning Consult survey results show not only that the challenge of finding an affordable home is growing, but also that Americans are despairing over their prospects and showing less interest in pursuing the dream of homeownership.
In the past year, more than half of adults reported an increase in their property taxes, while nearly a third said the same for their monthly rent or mortgage payments. More than a third of adults indicated they found it at least somewhat difficult to pay their property taxes and make their monthly mortgage payment.
Nearly half (47 percent) of renters were very interested in buying a home one day, but that is a 10 percentage point drop from September 2022. More than half (52 percent) of adults expect that home prices will become less affordable over the next year, exacerbating the despair of those who want to buy a home but can't afford to do so. Of those not planning to buy a home over the next year, 60 percent cited high interest or mortgage rates as a factor in their decision, while 47 percent pointed to the need for a downpayment as a contributing reason.
These survey results confirm our own findings. The National Housing Conference estimated that the annual income needed to afford the same home has doubled over the past four years.
Housing affordability is a problem impacting families across the political spectrum and in every region of America. So, no one should be surprised that 78 percent of adults believe Congress should prioritize passing bipartisan legislation to increase the supply of affordable homes and address high housing costs. This sentiment is shared by 86 percent of Democrats, 77 percent of Republicans, and 70 percent of independents.
We urge lawmakers to heed their call and respond forcefully—if not in this Congress, then in the next.
David M. Dworkin is president and CEO of the National Housing Conference.
Dennis C. Shea is executive director of the Bipartisan Policy Center's J. Ronald Terwilliger Center for Housing Policy.
The views expressed in this article are the writers' own.
