Does federally subsidized rental housing depress neighborhood property values?

• DOI: 10.1002/pam.20247
• Publication Date: 2007-03-09T21:08:28Z
• Authors: Ingrid Gould Ellen; Amy Ellen Schwartz; Ioan Voicu; Michael H. Schill
• Keywords: Subsidized housing; Property value; Rental housing; Residential Property

Abstract Few communities welcome federally subsidized rental housing, with one of the most commonly voiced fears being reductions in property values. Yet there is little empirical evidence that housing depresses neighborhood This paper estimates and compares impacts a broad range programs, using rich data for New York City difference‐in‐difference specification hedonic regression model. We find developments have not typically led to values have, fact, increases some cases. Impacts are highly sensitive scale, though patterns vary across programs. © 2007 by Association Public Policy Analysis Management