Housing Costs Become Top Issue for Young U.S. Voters Ahead of Midterms

Housing costs have surged to become the top political issue for U.S. voters aged 18 to 34, surpassing food prices and the protection of democracy ahead of the midterm elections, according to data from CNBC. CNBC reported that one in five Americans paying rent or a mortgage currently devote at least half of their gross income to housing expenses, with renters carrying a disproportionate burden as mortgage rates climb above 7.5%.

Surging Costs and the 7.5% Mortgage Rate

National home prices have risen nearly 60% from pre-pandemic levels, while existing-home sales in August registered an annualized pace below 4 million units, a threshold real estate economist Norm Miller described as an extreme affordability indicator. The average rate on the 30-year fixed mortgage surpassed 7.5%, up from a low of 5.99% recorded just days before the conflict with Iran began. For buyers purchasing a median-priced home around $450,000, that rate jump adds roughly $300 to their monthly payment compared to earlier in the year.

Data cited from Cotality shows that renting a typical home absorbs 26% of the median American income, up from 24% in 2019, while the income share required to own has climbed from 21% to 28% over the same period. Separate Apartment List data noted by CNBC reveals that a record 22 million U.S. households are now rent-burdened, meaning they commit more than 30% of their income to rent.

Lehigh Valley Congressional District Affordability Crisis

In Pennsylvania’s competitive 7th Congressional District in the Lehigh Valley, a household requires $67,481 per year to afford a typical two-bedroom rental without exceeding the 30% income threshold, according to the National Low Income Housing Coalition. CNBC reported that 54% of renters in the district already pay more than that limit. Lehigh University political science professor Christopher Borick noted that housing consistently ranks at the top of voter concerns in the area.

Local residents face stark financial barriers. Jessica Heller, a 33-year-old newlywed in Allentown, told CNBC that homeownership remains out of reach due to high down-payment requirements and elevated monthly mortgage costs for homes in disrepair. Similarly, 26-year-old Easton resident Blake Fontaine stated that he abandoned plans to move out after realizing he would pay $500,000 for a house his mother bought for $100,000.

Candidates Propose Different Strategies for Housing Affordability

In the Lehigh Valley race, Republican incumbent Congressman Ryan Mackenzie and Democratic challenger Bob Brooks have both framed housing affordability as a central campaign priority. Mackenzie co-sponsored the affordable housing tax credits passed in the 2025 budget bill. Brooks proposed building more starter homes, cracking down on corporate landlords, and streamlining zoning rules to accelerate construction.

In Pennsylvania’s 10th Congressional District, Republican incumbent Scott Perry defended his vote against the bipartisan housing legislation, asserting that federal spending has fueled the housing crisis. His Democratic opponent, Janelle Stelson, countered with a plan to expand small-dollar loans and repeal tariffs on lumber and drywall.

Housing affordability is one of the top concerns of families across the Lehigh Valley and the Poconos. After enduring years of skyrocketing housing costs, first-time homebuyers deserve relief.

Ryan Mackenzie

Local Zoning Rules Delay Meaningful Housing Changes

Pennsylvania features an unusually high number of individual municipalities, each enforcing its own network of local zoning rules and construction regulations. Borick cautioned that this regulatory fragmentation means meaningful changes capable of shifting consumer sentiment will likely not materialize in the near short term.

More on this story: Mortgage Rates Hit 7.28% After Trump Suggested 3% Rate Goal