4 minute read
Maryland’s Economy Begins at Home
BY LISA MAY
REALTORS® have been beating the drum on housing supply for many years now, through legislative and regulatory efforts as well as consumer engagement.
One of the key tools we use to connect Maryland resident sentiment to policymaker action is the annual State of Housing poll of registered Maryland voters. Now in its fifth year, we have more insights into how Marylanders think, feel, and act when it comes to finding housing, and the results are both as promising as they are precautionary.
First, the good news. Awareness of housing issues and the causes of housing shortages are growing among Maryland’s voters. This is driven by a couple of factors. For the first time this year, seniors’ views of the housing shortage and affordability concerns caught up to those of younger residents. Whether this is due to difficulties in downsizing or watching the struggles of their children and grandchildren (or both) remains to be seen, having generational agreement on housing’s importance is a positive step toward new housing development.
Another positive is that we are seeing growing agreement on why there are housing shortages. First among these is the regulatory framework surrounding home construction. One’s tolerance for regulations often breaks down along party lines. However, this year’s State of Housing poll found widespread acknowledgement from Democrats, Independents, and Republicans that excessive regulations are making it too hard to construct new housing.
Voters are also united in their views on policy makers’ actions—or lack thereof—on solving the housing crisis. Approval for state officials has improved only slightly since the passage of last year’s statewide housing package, but is still overwhelmingly negative, with 73% of respondents saying they are doing just a fair or poor job on housing affordability and supply. Local officials have it worse, with 77% rating them fair or poor, compared to just 18% rating them good or excellent.
This should be a cause for celebration. There is a clear mandate from the voters to change the way we produce housing and sufficient political cover for officials to enact those changes.
Of course, it’s not that easy.
There is still a very vocal minority who view housing as a drain on local resources, like roads and schools. At a time when both state and local budgets are feeling the strain of rising costs and decreasing revenues, the idea that we can’t afford new housing, as misguided as that is, persists.
If we allow that sentiment to take hold, it will be a self-fulfilling prophecy, and one that has serious implications for Maryland’s economy going forward.
The State of Housing poll revealed some warning signs for the future of our state and its economic success. First, Maryland has experienced a significant jump in the number of residents who report having a full-time job but still not making enough to afford housing, with an astounding 91% of respondents claiming this as a huge or medium obstacle to their housing search. A similar, but related, finding is the growth in those saying there is too little housing for those of moderate incomes, jumping from 46% in 2020 to 66% in 2025.
Most alarmingly is what Maryland residents are doing under those conditions. Nearly one-third of all residents have considered leaving the state due to housing costs. When narrowed to just younger renters, 42% have considered leaving due to high housing prices.
In a nutshell, this is Maryland’s current and future workforce sounding a warning that they need action on housing. If they don’t get it, they can and will look elsewhere for the opportunities they cannot find here. When workers leave, employers will follow.
Policymakers are just starting to make the connection between jobs and housing, and that housing is necessary infrastructure for our economy.
We at Maryland REALTORS® will continue making that case, but REALTORS® and our local associations serve as an important voice in their communities as well. Members can use the following resources to aid those efforts and ensure that we have the housing infrastructure we need to support our workforce, both now and in the future.
For more information, use these resources:
Lisa May is the Director of Advocacy and Public Policy for Maryland REALTORS®.
