Homeowners in congressional districts controlled by Democrats nationwide have gained two times' more housing wealth than those in districts led by Republicans, according to a report from Attom Data Solutions.
Single-family homeowners in Democrat-controlled districts have witnessed their homes gaining $59,467 in value since purchase, representing a 21% return. In Republican-controlled districts, single-family properties have increased $22,086 in value, for a 10% return on investment, Attom said Tuesday.
Home values were also higher in Democrat-controlled districts, at an average of $340,544 versus $247,443 in Republican ones.
To make the comparisons, Attom analyzed home values for 2.4 million single-family homes purchased eight years ago. There were nearly 900,000 homes in Democrat districts and roughly 1.5 million in Republican ones.
People who own homes in Republican-controlled districts don't lose out entirely. Homeowners in Republican-led districts pay an effective rate of 1.02% on their property taxes, or $2,514 on average, versus those in districts controlled by Democrats who pay a rate of 1.07%, or $3,659 on average.
And those living in Republican-controlled districts in seven of the 11 presidential battleground states — Florida, Iowa, Michigan, Nevada, New Hampshire, Ohio and Pennsylvania — have experienced a better return on investment than their counterparts in Democrat-controlled districts. For instance, Republican-led districts have experienced a 3% ROI on home purchases in Pennsylvania, while the ROI in the Democrat-controlled districts was negative 16%.
