Whatever your political views might be, one thing is clear – it’s better to be a homeowner under a Democrat-controlled congressional district than a Republican-controlled one, at least if you’re hoping your property will see its value appreciate.
A new study from ATTOM Data Solutions, the parent company of real estate analysis firm Redfin, has shown that homeowners in Democrat-controlled districts have seen their home’s value appreciate by more than twice as much as those living in Republican-controlled districts.
Out of 2.4 million single-family homes purchased eight years ago, those in Democrat areas have seen their values increase by an average of $59,467 since being bought, which represents a 21 percent return on investment. In contrast, homes in Republican-controlled areas have only achieved a 10 percent return on investment over the same time frame.
However it’s not all doom and gloom for those in Republican-controlled districts. They might not have such high returns, but they do pay less property taxes – $2,514 on average representing a 1.02 effective tax rate compared to $3,659 representing a 1.07 percent tax rate for homeowners in Democrat-controlled districts.
Counter to the national trend, seven of the 11 battleground states in the 2016 presidential election have produced better ROI for homeowners in Republican-controlled districts.
ATTOM Data Solutions looked at home values, appreciation, property taxes and equity for 2.4 million single family homes purchased eight years ago, broken down by congressional district.