Homeowners and Renters Divided on Immigration and Tariffs' Impact on Housing Market

Strategic Insights -

U.S. homeowners and renters are deeply split on how immigration and tariffs will affect the housing market, according to a new survey from Redfin. While some believe that less immigration will make homes more affordable, others think it will make homes more expensive. Similarly, there is disagreement on the impact of tariffs, with some seeing them as a threat to the housing market and others believing they will help the economy and make homes more affordable.

Key Takeaways:

  • 51.2% of surveyed homeowners and renters think less immigration will result in fewer construction workers, making homes more expensive, while 38.5% believe it will make homes more affordable.
  • 67.9% of respondents agree that tariffs will cause price inflation and keep interest rates high, but 34.7% think they will help boost the U.S. economy and make homes more affordable.
  • Democratic respondents are more likely to agree that less immigration will make homes more expensive (67.1% vs 38.7% among Republican respondents), while Republican respondents are more likely to think tariffs will help the economy and make homes more affordable (55.3% vs 23.9% among Democratic respondents).
  • 43.1% of homeowners and renters feel very or somewhat worried about the effect tariffs could have on their local housing market/home values, while 33.1% feel very or somewhat hopeful.
  • Homebuyers canceling plans due to tariffs: 43% of U.S. residents reported canceling plans to make a major purchase, including a home or a car, because of President Trump's new tariff policies.

Statistics:

  • 51.2% of surveyed homeowners and renters believe less immigration will make homes more expensive.
  • 38.5% of respondents think less immigration will make homes more affordable.
  • 67.9% of respondents agree that tariffs will cause price inflation and keep interest rates high.
  • 34.7% of respondents think tariffs will help boost the U.S. economy and make homes more affordable.
  • 43.1% of homeowners and renters feel very or somewhat worried about the effect tariffs could have on their local housing market/home values.
  • 33.1% of respondents feel very or somewhat hopeful about the effect tariffs could have on their local housing market/home values.

Sources:

  • Redfin commissioned a nationally representative survey of 4,000 U.S. homeowners and renters conducted by Ipsos from March 28, 2025-April 28, 2025.
  • The survey is available on the Redfin Data Center.
  • View the full report, including charts and detailed methodology, on the Redfin website: https://www.redfin.com/news/immigration-housing-affordability-survey.