Priced Out and Moving On: How Housing Costs Could Shift Young Voters
Summary
A recent survey shows that rising housing costs are the top political concern for young Americans aged 18 to 34. Home prices have increased significantly since 2020, making it harder for young people to buy homes and affecting where they choose to live and vote.Key Facts
- Housing costs are the main issue for Americans aged 18-34 and men aged 18-49, according to a CNBC survey of 1,000 voters in 2026.
- For all adults, housing was the fourth biggest issue after food prices, protecting democracy, and immigration.
- Home prices in the U.S. rose 54% since 2020, driven by low borrowing costs and a shortage of homes.
- The median home price in May 2026 was about $399,000, up from $316,000 in 2019.
- Starter homes priced at $350,000 or less dropped from 60% to 40% of listings since 2019.
- Mortgage rates increased to just above 6.5%, and property taxes rose over 30% from 2019 to 2025.
- Home insurance costs climbed 46% since 2021, mainly due to more extreme weather.
- Young adults aged 25-34 own fewer homes, with homeownership rates falling from 47% in 2005 to 37% now.
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