Private equity has become a key target in the US midterm campaign trail as candidates blame large investors for soaring housing costs. An FT analysis found negative comments about private equity and corporate landlords have risen sharply in 2026, with investments frequently linked to rising prices. More than two dozen candidates in competitive House and Senate races have pledged to restrict purchases by private equity firms, hedge funds, and institutional investors.

Chris Pappas, a moderate Democratic House member from New Hampshire, campaigns for stronger guardrails, arguing changes in ownership lead to higher rents and reduced maintenance. He cited residents of mobile home parks in New Hampshire acquired by Michigan-based boutique real estate investor Sado Capital, who faced increased rent and new income requirements. In Iowa, 71-year-old Candi Evans saw her $285 ground rent increase by $140 a month after Havenpark Capital acquired her manufactured home park.

Republican Senate nominee Ashley Hinson in Iowa acknowledged families struggle as "massive institutional investors" outbid for starter homes. Democratic opponent Josh Turek pledges to ban "Wall Street private equity firms" from single-family homes and farmland. Adam Hamilton, Democratic candidate in Kansas, calls for an investigation into institutional investment impacts on affordability.