Annapolis, MD, February 2024 - On February 14th, HCAR participated in the 2024 Maryland Realtors Lobby Day for an opportunity to discuss our priorities with Senators Hester and Guzzone and Delegates Watson, Wu, Ziegler, Feldmark, Hill, Atterbeary, Lanam Guzzone, and Terrasa. This year, HCAR focused on advocating for:
- Housing Supply in Maryland - Supporting expanding missing middle housing options for residents of all ages, abilities, and incomes.
- Housing Programs for Maryland - Supporting the First-Time Homebuyer savings account expansion, financial literacy, and full funding for Maryland housing programs.
- Consumer Protections - Supporting additional buyer and seller protections during sales transactions.
- Industry Practices - Supporting common-sense reforms to assist real estate practitioners.
More than a quarter of all Marylanders are considering leaving the state because of Maryland’s rising housing costs, according to a survey of registered voters taken January 2024, by American Strategies, an independent polling firm, which conducted the poll for Maryland REALTORS, the state’s largest trade association, representing more than 30,000 REALTORS. This is its fourth annual State of Maryland Housing poll, conducted in conjunction with its "Open Doors to Stronger Neighborhoods" campaign.
The rise in housing costs grew to become the top concern among young voters under 50. Underscoring this concern: 30% of Maryland voters aged 18-34 are considering leaving the state due to prohibitive housing costs. For Marylanders between the ages of 35-49, 28% would consider leaving. Of those who rent, 44% of younger renters are considering leaving.
When it comes to the price of housing, Marylanders have growing concerns about the rising cost of housing:
- 99% of voters aged 18-34 say that it’s harder to buy a home now than in previous generations.
- 89% say that even with a full-time job, the ability to afford a home presents a huge or medium obstacle to becoming a homeowner.
- 70% of Marylanders aged 35-49 say that housing costs are a strain on their budgets.
- 82% of registered Maryland voters think the cost to buy a home is too high—this is 25 points higher when voters were asked this question in 2020.
- 49% say there are too few homes to buy, up 14 points since 2020.
- There’s no joy in renting, either: 81% said the cost of rent is too high, versus 61% in 2020.
It’s Not Just Price. It’s Availability.
After more than a year of low inventory, registered voters also expressed concern about housing supply:
- 65% say there is too little housing for people with moderate incomes.
- 66% say there is too little housing for people with low incomes.
- 62% say there is too little housing for seniors and those with special needs.
- 73% say there is too little housing for younger people.
Marylanders Favor Innovative Solutions.
While the survey focused on Marylanders’ thoughts on housing availability and cost, the survey also demonstrated Marylanders’ interest in innovative solutions to the housing crisis, such as Missing Middle Housing. From the survey, 55% felt that Missing Middle Housing—duplexes, triplexes, cottage courtyards—would be a good fit for their neighborhoods. Missing Middle Housing is compatible with a single-family home but offers more variety in size and price. As single-family homes continue to be priced out of the market for Marylanders of moderate- and lower-incomes, Missing Middle Housing can fill the gap between single-family homes and large apartment complexes.
Benefits of Missing Middle Housing
- Far from a radical idea, Missing Middle Housing accounted for 10% of all new housing construction in the ‘70s. Today, it accounts for 0.7%.
- Missing Middle Housing provides housing at a variety of sizes and price points, appealing to Marylanders who may be priced out of the current housing market.
- Missing Middle Housing fits readily into more locations where there may not be the need for a larger apartment complex.
- Less expensive to build than larger apartment buildings, Missing Middle Housing lowers the high cost of land by sharing it across multiple units, instead of one single family home.
- Missing Middle Housing doesn’t burden a city’s infrastructure, the way a large housing development can, and
- In today’s car-driven society, Missing Middle Housing helps to create more walkable communities, something with high homebuyer appeal.
More about the Howard County Association of REALTORS®
The Howard County Association of REALTORS® is fortunate enough to represent over 2,000 real estate professionals in Howard County. HCAR’s mission is to advance Howard County’s real estate industry by shaping public policy on real property issues; and encouraging, promoting, and teaching consistent standards for ethical practice and professionalism for our REALTOR® members.
Visit www.hcar.org for more information.
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