The 2026 midterm elections decide more than who controls Congress. They also shape the cost of buying and owning a home, from affordability rules and property tax policy to the mortgage programs that get first-time buyers to the closing table.
As a mortgage broker with 15 years of experience serving Phoenix, Scottsdale, and the rest of Maricopa County, I watch housing policy closely, and so should you. Voters on Tuesday, Nov. 3, will fill all 435 U.S. House seats, 35 U.S. Senate seats, and 36 governorships, plus thousands of state and local offices and ballot measures (WBAL). Those results set the agenda that shapes what a mortgage actually costs you.
Here is what I tell my clients and the agents I partner with: you do not have to agree with every candidate or party to make your voice heard. You just need to understand which races and ballot measures touch housing, then vote with your own home and your clients' financing in mind.
Five Housing Issues Worth Understanding Before You Vote
Elected officials influence housing through decisions on development incentives, infrastructure, regulation, and funding. For buyers, homeowners, and the agents who guide them, five issues matter most this cycle.
1. Housing affordability
Higher home prices, mortgage rates, insurance premiums, and property taxes squeeze household budgets across the Valley. Officials shape affordability through development incentives, infrastructure investment, housing programs, and regulatory requirements, and proposals range from expanding the supply of homes to offering financial assistance and tax incentives. Each approach carries benefits, costs, and tradeoffs.
For homebuyers, housing policy affects the availability and cost of homes. For real estate professionals, understanding proposed legislation helps you explain potential market changes to clients.
2. Property taxes
Your mortgage payment is only part of the cost of ownership. Local governments use property tax revenue to fund schools, emergency services, and infrastructure, and voters may face measures involving rates, exemptions, or assessment rules. A change in the mill rate or assessed value shows up directly in your monthly escrow. For a typical Phoenix-area home, even a modest tax increase can add tens of dollars to every mortgage payment, so property tax proposals deserve the same scrutiny you give your interest rate. Those decisions shape monthly housing expenses and long-term affordability.
My mortgage tip: When you price a home, budget the entire monthly payment, including principal, interest, property taxes, homeowners insurance, and any HOA dues. Get a full-cost estimate before you commit.
3. Housing supply
Local zoning, land-use rules, development approvals, and infrastructure planning decide where new homes can be built and how quickly. City councils, county officials, and state legislators shape what gets permitted, and the pace of new construction helps relieve price pressure over time. When approvals slow, the Valley's inventory stays thin, which keeps price per square foot elevated and pushes more buyers into bidding wars. New development also raises questions about water, transportation, and neighborhood planning, concerns that matter throughout Arizona, from Phoenix and Scottsdale to the surrounding Maricopa County neighborhoods.
The takeaway: Local elections can directly shape the communities where we live and work.
4. Mortgage financing and access to homeownership
Federal housing policy influences the mortgage programs that help Americans buy homes, including FHA-insured loans, VA home loans, and USDA rural housing programs. Congress also sets federal housing funding, tax policy, and oversight of the institutions that finance mortgages. Policy talk this cycle includes expanding access to financing, supporting first-time buyers, adding inventory, and opening doors for underserved communities. For agents, changes can affect loan program availability and borrower eligibility. For buyers, they shape the financing options available at purchase.
A point worth clarifying: The Federal Reserve, not Congress, sets the federal funds rate through its independent monetary policy. Mortgage rates move with broader financial markets and are not directly set by elected officials.
5. Homeowners insurance and consumer protection
Insurance premiums, coverage availability, and regulation determine whether a property stays affordable to carry. State insurance regulators and lawmakers influence market rules, consumer protections, and disaster-related policy, and elections shape discussions about fair housing protections, lending practices, and consumer rights. In Arizona, rising premiums have pushed housing costs up faster than the payment alone, so a higher insurance bill can strain the debt-to-income ratios lenders use to qualify buyers. For buyers and owners, these policies carry real financial consequences.
What Real Estate Industry Leaders Are Watching
Housing is running through nearly every race this year, even when it is not on the ballot by name. The National Association of Home Builders calls this an "affordability election," with candidates from both parties pitching voters on housing supply and financing access (Inman).
The National Association of Realtors is supporting more than 30 state and local ballot measures tied to property taxes and transit, and its political action committee provided bipartisan support for 429 candidates across the U.S. (Inman). Other groups, including the American Real Estate Association, are pushing members to focus on license laws, transfer taxes, rent regulation, and zoning, the local decisions that affect buyers and sellers most directly.
Industry groups differ in priorities and approach, and real estate professionals are better off reviewing several perspectives than relying on any one source. For agents, the practical takeaway is clear: proposed housing policy can change the market you work in, so staying current matters as much as your local market knowledge.
Before You Vote, Ask These Questions
Whether you are a homeowner, a buyer, an investor, or an agent, a few targeted questions cut through the campaign noise:
What are the candidates' specific plans for housing affordability and increasing supply?
How would proposed property tax policies affect homeowners and local public services?
What are the potential benefits and costs of the housing programs on offer?
How would local development and zoning decisions affect my community?
What does the actual language of each housing-related ballot measure say?
Look beyond campaign headlines. Review official ballot information, candidates' published policy proposals, and credible nonpartisan resources. An informed vote begins with understanding the issues.
A Message to My Fellow Real Estate Professionals
As real estate professionals, we help people understand one of the largest financial decisions they will ever make, and that makes housing policy part of our professional education. We do not have to endorse candidates or tell clients how to vote to offer real value. We can encourage people to research the issues, weigh the consequences of proposed policies, and take part in the process.
Knowledge creates confidence, and informed communities make better decisions.
Your Home, Your Community, Your Voice
Homeownership is more than a financial transaction. It is where families build memories, establish roots, and work toward long-term stability. The policies that shape our communities deserve thoughtful attention, and regardless of your political affiliation, I encourage you to learn about the candidates and measures on your ballot and exercise your right to vote.
Your vote is personal, your decision is yours, and your participation matters.
Review Your Own Housing Plan
Whatever the outcome on Tuesday, your homeownership goals stay the same. If you are weighing a purchase, refinance, or a plan for your clients' buyers, the best time to review your numbers is now, before the market moves. Book a free mortgage consultation with me, and we will walk through your financing options, your budget, and what changing policy could mean for your next step.
Schedule a free mortgage consultation and get clear, practical answers built around your situation, not politics. Buyers, homeowners, and agents all welcome.
About the Author
Virginia Fargo is a mortgage broker with 15 years of experience helping homebuyers and homeowners across Arizona, California, Texas, and Florida understand their financing options. Providing No Hassle Home Loans, she is the trusted mortgage consultant and home loan advisor in Scottsdale & across Maricopa County, the leading mortgage broker dedicated to helping consumers save money, specializing in home loans, first-time homebuyers, relocation, affordability, and self-employed borrower financing.
Virginia Fargo | No Hassle Home Loans Your local Phoenix & Scottsdale Mortgage Broker NMLS #299320 | Empire Home Loans NMLS #1839243 | AZ Lic: MB-1012019
Equal Housing Lender
*This article is intended for educational and informational purposes. It is nonpartisan and does not endorse any political party, candidate, or ballot measure. Housing policies and their economic effects depend on the details of legislation, implementation, and local market conditions. Rates and eligibility vary.
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