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Does federally subsidized rental housing depress neighborhood property values?

Journal of policy analysis and management, 2007-03, Vol.26 (2), p.257-280 [Peer Reviewed Journal]

Copyright 2007 Association for Public Policy Analysis and Management ;2007 by the Association for Public Policy Analysis and Management ;Copyright Wiley Periodicals Inc. Spring 2007 ;ISSN: 0276-8739 ;EISSN: 1520-6688 ;DOI: 10.1002/pam.20247 ;CODEN: JPAMD7

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Title:
Does federally subsidized rental housing depress neighborhood property values?
Author: Ellen, Ingrid Gould ; Schwartz, Amy Ellen ; Voicu, Ioan ; Schill, Michael H.
Subjects: Decision making ; Dwelling value ; Housing ; Housing policy ; Housing subsidies ; Impact analysis ; Neighborhoods ; New York ; Older adults ; Policy analysis ; Policy studies ; Program Effectiveness ; Property ; Property values ; Public Housing ; Public policy ; Public property ; Real estate market ; Real estate valuation ; Regression analysis ; Rent ; Rental housing ; Rentals ; Social housing ; Studies ; Subsidized housing ; U.S.A
Is Part Of: Journal of policy analysis and management, 2007-03, Vol.26 (2), p.257-280
Description: 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 subsidized housing depresses neighborhood property values. This paper estimates and compares the neighborhood impacts of a broad range of federally subsidized rental housing programs, using rich data for New York City and a difference-in-difference specification of a hedonic regression model. We find that federally subsidized developments have not typically led to reductions in property values and have, in fact, led to increases in some cases. Impacts are highly sensitive to scale, though patterns vary across programs.
Publisher: Hoboken: Wiley Subscription Services, Inc., A Wiley Company
Language: English
Identifier: ISSN: 0276-8739
EISSN: 1520-6688
DOI: 10.1002/pam.20247
CODEN: JPAMD7
Source: Education Resources Information Center (ERIC)
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Does federally subsidized rental housing depress neighborhood property values?

Copyright 2007 Association for Public Policy Analysis and Management ;2007 by the Association for Public Policy Analysis and Management ;Copyright Wiley Periodicals Inc. Spring 2007 ;ISSN: 0276-8739 ;EISSN: 1520-6688 ;DOI: 10.1002/pam.20247 ;CODEN: JPAMD7

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