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Home Values in Red States vs. Blue States

By Election Zillow

When it comes to politics, all eyes are on the vote count today. Here at Zillow, we keep an eye on a different set of numbers: home values. So we combined the two to see how people of different political leanings have fared in terms of home value appreciation since the 2012 presidential election.

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What we found: Republican, or red, states have had a much steadier real estate ride than heavily Democratic, or blue, states. The swing states fell somewhere in between.

Home values in liberal states, which tend to be big, coastal states, crashed hard during the recession. That meant they had a bigger bounce back up. The analysis found that home values in blue states rose quickly over the past two years, an average of 17.8 percent.

Despite that fast appreciation, Democratic-leaning states still have home values that remain about 18 percent below their pre-recession peak.

Red states avoided the worst of the housing market crash, and as a result, home values didn’t have as far to come. Home values in Republican-leaning states grew about 8.9 percent since 2012, and they are only 5 percent below their pre-recession high point.

To see how your state fared, check out the full report on Zillow Research.

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