The median monthly housing payment in swing states has nearly doubled since the 2020 election, up 92 percent to an all-time high of $2,161.
Home prices in battleground states have also skyrocketed nearly 40 percent to a record high of $316,063 in 2024, according to the report from the real estate company Redfin.
Redfin’s analysis examined housing and income data trends in red and blue states as well as seven swing states: Arizona, Nevada, Wisconsin, Michigan, Pennsylvania, Georgia and North Carolina.
Housing costs have grown faster than incomes since the last election, which has made the typical home unaffordable for the average family in these key states.
A household in one of these states must earn $86,421 to spend less than 30 percent of their income on payments for a median-priced home, nearly double the $45,140 they needed in 2020.
This issue weighs heavily on the minds of voters and is poised to play a major role in the upcoming election.
“Voters in swing states care about housing affordability because soaring home prices and mortgage rates, along with a shortage of homes for sale, have made homeownership feel impossible for some Americans,” Redfin senior economist Elijah De La Campa said in a statement.
President Biden and former President Trump are essentially tied in recent polling on their handling of housing issues, although swing state voters prefer Trump’s handling of the economy to Biden’s.
NewsNation’s Andrew Dorn has more here.
