Work

Does Affordability Status Matter in Who Wants Multifamily Housing in Their Backyard?

Year: 2025

Type: article

Abstract: We provide evidence that similar price effects occur from new multifamily rental housing on surrounding owner-occupied property values regardless of whether the development was subsidized. These effects were on average negative in higherincome communities, but became either non-distinguishable from zero or positive in higher-income communities with sufficient population density. These results imply that previous opposition to all new rental housing by homeowners is misguided as developments could raise property values in some higher-income neighborhoods.

Source: The Review of Economics and Statistics

DOI: 10.1162/rest.a.282

Authors: Michael D. Eriksen, Guoyang Yang

Institutions: Purdue University West Lafayette, Monmouth University

Language: English

Topic: Housing Market and Economics

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Sustainable cities and communities, Reduced inequalities

Open Access status: green

OpenAlex ID: W4414157956

FWCI: 1.912

Cites:

Cited by: 3

Related to: 10