New data shows housing costs declining as mass removals ease demand—reversing Biden-era surge tied to record migration.
By yourNEWS Media Newsroom
Treasury Secretary Scott Bessent credited President Donald Trump’s mass deportation agenda with lowering rents for working- and lower-middle-class Americans, as new data shows apartment costs falling 1.1% year-over-year and 5.2% since their 2022 peak.
In a Fox Business interview, Bessent pointed to a Wharton School study linking immigration levels to housing costs, stating:
“There’s a recent study out from [the] Wharton School that shows every 1% increase in population, rents went up 1%. So, [President Trump], by enforcing the border, sending home more than 2 million illegals, we’re now seeing … rents coming down substantially.”
Bessent added that the trend is expected to continue, citing lower interest rates and declining mortgage costs as complementary factors.
Vance: Biden’s Migration Surge Drove Housing Crisis
Vice President JD Vance echoed the sentiment in Allentown, Pennsylvania, blaming former President Joe Biden’s “mass migration agenda” for doubling housing prices during his term:
“If you go back to the four years of the Biden administration, why did housing get so expensive, double in price? It’s because Joe Biden let in 20 million illegal immigrants who took homes that by right go to American citizens.”
HUD Report Confirms Migration-Housing Link
A recent HUD investigation found that Biden’s importation of 6 million migrants (2021–2024)—the largest short-term surge in U.S. history—drove up housing demand, pricing out low-income Americans:
“This immigration-driven increase in households has contributed to a significant rise in housing prices. In some markets, immigration accounted for nearly all of the recent demand surge.”
Policy Shift Yields Results
The Trump administration’s enforcement actions, including 2 million+ deportations, have begun reversing the trend, with rents declining and housing affordability improving for U.S. workers. Officials argue the data proves border security and deportations directly benefit American families by reducing competition for limited housing.
“It’s not a coincidence—it’s a correlation,” said HUD Secretary Scott Turner, emphasizing that mass migration inflates costs, while deportations restore balance to the market. The administration vows to continue prioritizing American workers in housing and economic policy.
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