An analysis by real-estate listing website Trulia in the 20 highest-priced U.S. housing markets from 1996 to 2006 found that residential property values near low-income housing were not significantly impacted.
The study looked at more than 3,000 low-income housing projects and their surrounding neighborhoods. Home values within 2,000 feet of low-income housing projects were largely the same as homes between 2,000 and 4,000 feet from these projects.
Some of the least affordable markets have experienced resistance to building affordable housing, with some opponents claiming these projects depreciate nearby home values. Opposition to affordable housing development has surfaced in tight housing markets across the country such as San Francisco, New York, and Seattle.
San Jose, Calif., was the most aggressive in adding low-income housing units (7.81 per 1,000 people) during the decade, Trulia says. By contrast, Oakland, (0.52 per 1,000 residents) added the fewest units per capita.
Of the 20 markets examined, Denver was the only metro area where homes located near low-income housing projects experienced an increase in price per square foot after a project was completed. In Boston and Cambridge, Mass., however, low-income housing projects had a negative effect on the value of nearby homes, suggesting a region-specific market effect. Affordable housing projects in most of the other areas had no significant impact on home values.
Related Stories
Codes and Standards | Jan 24, 2020
Fenestration Rating Council earns ANSI certification
FenStar Certification Program ensures windows, doors, and skylights meet Energy Star specifications.
Codes and Standards | Jan 23, 2020
Rent control policies backfire on goal of boosting affordable housing
Natl. Apartment Assn. study says rent control decreases housing supply, harms condition of housing stock.
Codes and Standards | Jan 22, 2020
Potential energy savings from smart meters is largely unrealized
Most utilities underuse the technology that can help customers save money.
Codes and Standards | Jan 21, 2020
Contractors pay practices reviewed in new database
Fastest and slowest paying GCs revealed.
Codes and Standards | Jan 17, 2020
Several states with ambitious climate goals will have to restrict natural gas as a fuel
Buildings would have to heat and cook with electricity.
Codes and Standards | Jan 16, 2020
New solar-ready mandate affects commercial and residential buildings in St. Louis
All new buildings must have reserved rooftop sections for PVs.
Codes and Standards | Jan 15, 2020
Trump Administration blocks new light bulb efficiency standards
Move defies bipartisan 2007 law.
Codes and Standards | Jan 14, 2020
L.A.’s expedited permitting process credited with faster approvals on $1 billion project
Parallel Design-Permitting Process includes flagging elements for correction during conceptual design.
Codes and Standards | Jan 13, 2020
Kansas City is first in nation to offer free public transportation
Aim is to increase mobility to spur more economic activity.
Codes and Standards | Jan 9, 2020
Dept. of Defense will require beefed up cybersecurity standards in January
All contractors will have to demonstrate secure practices.