Consequently, many Americans now view affordable housing as harder to find. Seventy-three per cent (73%) of renters support building more affordable housing in their neighborhoods, compared to just 44% of homeowners, reflecting renters’ greater openness to housing solutions that may ease local affordability issues.
The survey also showed that most consumers (82%) are in favor of adding some form of new housing, yet when asked specifically about changes to zoning codes to increase housing density, support declines among homeowners, with only 37% favoring such measures compared to 63% of renters.
The ESR Group said that consumers’ mixed sentiments on housing affordability and construction could make it challenging for policymakers and homebuilders to agree on reforms and proposed developments, especially since zoning changes and increased density are often critical components of affordability strategies.
“Consumers clearly understand the need for greater affordability, but most don’t support the development of housing types in their own neighborhood that most experts believe would have the greatest positive impact on affordability,” the author wrote in a perspectives blog.
“However, when survey respondents considered the broader effects of new development, they believe more housing is a net positive. The survey results also suggest greater pent-up homebuyer demand for denser housing types than what currently exists in the housing stock, pointing to a potential need for additional supply.
