<p>This paper demonstrates that high-speed public transit systems—such as subways and light rails—can increase housing consumption for low-skilled households in the United States, albeit with time lags. The effect is significantly smaller for middle- and high-skilled households. High-speed transit has a more pronounced impact on disadvantaged households, those without access to automobiles, households in central cities, and those in cities with inelastic housing supply and high population density. Furthermore, the analysis across different types of transit reveals that subways have a larger effect on housing consumption compared to light rails. The empirical results support several mechanisms driving these outcomes: high-speed transit encourages the use of public transportation, redistributes populations from central cities to suburbs, flattens the housing price gradient, and stimulates construction activities in suburban areas. These findings suggest that high-speed transit could serve as an effective policy tool to mitigate housing affordability challenges.</p>