Does federally subsidized rental housing depress neighborhood property values?

Ingrid Gould Ellen, Amy Schwartz, Ioan Voicu and Michael H. Schill
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Ingrid Gould Ellen: New York University, Postal: New York University
Ioan Voicu: New York University, Postal: New York University
Michael H. Schill: UCLA School of Law, Postal: UCLA School of Law

Journal of Policy Analysis and Management, 2007, vol. 26, issue 2, 257-280

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 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. © 2007 by the Association for Public Policy Analysis and Management

Date: 2007
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Citations: View citations in EconPapers (20)

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Persistent link: https://EconPapers.repec.org/RePEc:wly:jpamgt:v:26:y:2007:i:2:p:257-280

DOI: 10.1002/pam.20247

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