The House gave final approval Tuesday to a broad bipartisan bill aimed at lowering the cost of housing, with lawmakers in both parties eager to show progress on affordability issues ahead of this year's midterm elections.
The 358-32 vote sends the bill to President Donald Trump, who is expected to sign it into law Wednesday at the Capitol. The Senate passed the legislation 85-5 on Monday, marking a rare moment of bipartisanship in a congressional session that has been plagued by bitter standoffs.
Dozens of bills were combined to create the final package after months of negotiations. The legislation would reduce federal regulations, streamline environmental reviews, speed up the construction process and curb the influence of corporate landlords by limiting their ability to purchase single-family homes. It represents one of the most sweeping efforts in decades to increase housing supply and bring down prices.
What the Right Is Saying
House Financial Services Chairman French Hill, R-Ark., who worked with Waters and the Senate on the bill, called it the first time in years Congress has come together to make "measurable, accountable changes" to the nation's housing laws. The bill will "help build more homes to meet that growing demand and keep the American dream within reach," he said.
Republicans embraced the measure as a way to address the nation's affordability crisis driven by rising home prices due to a shortage of affordable housing. The legislation provides a framework for communities that want to reform outdated zoning regulations, which often limit larger housing developments. It also raises limits on public housing units receiving financing for renovations and codifies a recovery program to help expedite funds to communities rebuilding after disaster.
Conservative lawmakers highlighted provisions curbing corporate landlord influence by limiting their ability to purchase single-family homes, though the final legislation does not include a Senate provision that would have required investors to sell newly constructed homes within seven years.
What the Left Is Saying
Democratic Rep. Maxine Waters of California, who helped negotiate the bill, said the median age of a first-time homebuyer is now 40 and rents have soared some 47% since the COVID-19 pandemic. "Our country must do better and today we will," she said.
Progressive lawmakers emphasized that the legislation expands financing, encourages innovative housing like modular homes, requires new renter protections and enhances programs aimed at ending homelessness. The bill also offers funding to local governments that build more housing, including Community Development Block Grant money to places exceeding the median rate of homebuilding.
Rep. Jim Himes, D-Conn., noted the unusual level of bipartisanship ahead of the vote. "In this polarized and angry Congress, we are actually getting something done," he said. Housing advocates representing tenants and low-income renters backed the legislation alongside organizations representing landlords and large property owners.
What the Numbers Show
Sales of previously occupied U.S. homes have been hovering close to a 4-million annual pace going back to 2023 — well short of the 5.2-million annual pace that's historically been the norm, according to industry data. Sales slowed last year to a 30-year low and have remained sluggish so far this year, declining in January and February versus a year earlier.
The Economic Report of the President found a shortage of 10 million homes nationwide. A report from the Joint Center for Housing Studies at Harvard University found existing home sales were at three-decade lows with inventories rising due to high home buying costs. "Cost burdens for both renters and owners continue to climb, while assistance remains profoundly underfunded," the Harvard report stated.
While median U.S. monthly rent has been declining for nearly three years, it was still 17.2% higher in May than before the pandemic, according to Realtor.com data. The U.S. housing market has been in a slump dating back to 2022 when mortgage rates began climbing from pandemic-era lows.
The final House vote was 358-32, with 32 members voting against the bill and 85 senators voting in favor versus 5 opposed in the Senate.
The Bottom Line
The legislation now heads to President Trump for his signature Wednesday. It represents a significant bipartisan achievement in an otherwise divided Congress, combining dozens of separate bills into one comprehensive approach to address housing affordability.
The bill's passage marks the most sweeping effort in decades to increase housing supply and reduce costs. Key provisions include streamlining construction regulations, limiting corporate single-family home purchases, expanding financing options and incentivizing local governments to build more housing.
What remains to be seen is how quickly the measures will translate into tangible relief for renters and homebuyers facing historically high costs and limited inventory.