Does federally subsidized rental housing depress neighborhood property values?

Ingrid Gould Ellen, Amy Ellen Schwartz, Ioan Voicu, Michael H. Schill

Research output: Contribution to journalArticlepeer-review

35 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)257-280
Number of pages24
JournalJournal of Policy Analysis and Management
Volume26
Issue number2
DOIs
StatePublished - Mar 1 2007
Externally publishedYes

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Sociology and Political Science
  • Public Administration

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