Immigration and housing rents in American cities

Albert Saiz

No 03-12, Working Papers from Federal Reserve Bank of Philadelphia

Abstract: Is there a local economic impact of immigration? Immigration pushes up rents and housing values in destination cities. The positive association of rent growth and immigrant inflows is pervasive in time series for all metropolitan areas. The author uses instrumental variables based on a \"shift-share\" of national levels of immigration into metropolitan areas. Conditioning on other variables, an immigration inflow equal to 1 percent of the city population is associated with increases in rents and housing values of about 1 percent. The results suggest an economic impact that is an order of magnitude bigger than that found on labor markets.

Keywords: Emigration and immigration; Housing - Prices (search for similar items in EconPapers)
Date: 2003
New Economics Papers: this item is included in nep-ure
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Citations: View citations in EconPapers (19)

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Related works:
Journal Article: Immigration and housing rents in American cities (2007)
Working Paper: Immigration and Housing Rents in American Cities (2006)
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