#new The 20 million illegal migrants who came into the country during the Biden administration spiked home prices by over 30% and rents by 20% according to a fed paper. The working paper from the Federal Reserve Bank of Dallas found that the surge in illegal migration from March 2021 to March 2024 – during the Biden administration – caused home and rent prices to skyrocket.
The paper found that even a minimal 1% increase in illegal migrant workers, raised the local home prices by 2.2% and market rents by 1.4%
So, if there was a 30% increase in illegal migrant worker flows, then local home prices would rise by 66% and there would be a 42% rise in market rents in the affected metropolitan areas. The flows explained about 30% of total house price increases and 20% of total rent price increases on average.
Per capita labor income fell because illegal migrants work for lower-wages, even as total employment rose.
However, many experts, and everyday people, feel that the price increase was greater than 30%
The Median home prices before Biden took office, and after he allowed 20 million illegals into the nation were cited
🔺️2020 Median Home Prices
➡️Texas: $202,600
➡️Ohio: $157,200
➡️California: $569,300
➡️New York: $313,700
➡️Colorado: $394,500
🔺️2025 Median Home Prices
➡️Texas: $341,800
➡️Ohio: $262,900
➡️California: $854,000
➡️New York: $595,500
➡️Colorado: $604,600
🔺️Price Increase:
➡️Texas: 69%
➡️Ohio: 67%
➡️California: 50%
➡️New York: 90%
➡️Colorado: 53%
🔺️2020 Average Home Prices
➡️Texas: $215,000
➡️Ohio: $170,000
➡️California: $580,000
➡️New York: $340,000
➡️Colorado: $420,000
🔺️2025/2026 Average Home Prices
➡️Texas: $302,550
➡️Ohio: $248,719
➡️California: $775,550
➡️New York: $505,237
➡️Colorado: $543,270
🔺️Price Increase
➡️Texas: 41%
➡️Ohio: 46%
➡️California: 34%
➡️New York: 49%
➡️Colorado: 29%
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