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Article
The Differential Impacts of Federally Assisted Housing Programs on Nearby Property Values: A Philadelphia Case Study
Departmental Papers (SPP)
  • Chang-Moo Lee, University of Pennsylvania
  • Dennis P. Culhane, University of Pennsylvania
  • Susan M Wachter, University of Pennsylvania
Document Type
Journal Article
Date of this Version
1-1-1999
Abstract
Prior research has found negative impacts of public housing on neighborhood quality. Few studies have examined the impact of public and other assisted housing programs on real estate prices, particularly differential impact by program type. In this study, federally assisted housing units by program type are aggregated by 1/8- or 1/4-mile radii around individual property sales and regressed on sales prices from 1989 through 1991, controlling for area demographic, housing, and amenity variables. Results show that public housing developments exert a modest negative impact on property values. Scattered-site public housing and units rented with Section 8 certificates and vouchers have slight negative impacts. Federal Housing Administration–assisted units, public housing homeownership program units, and Section 8 New Construction and Rehabilitation units have modest positive impacts. Low-Income Housing Tax Credit sites have a slight negative effect. Results suggest that homeownership programs and new construction/rehabilitation programs have a more positive impact on property values.
Comments
Reprinted from Housing Policy Debate, Volume 10, Issue 2, 1999, pages 75-93.

We have contacted the publisher regarding the deposit of this paper in ScholarlyCommons@Penn. No response has been received.
Keywords
  • assisted housing,
  • public housing,
  • property values,
  • positive impact
Citation Information
Chang-Moo Lee, Dennis P. Culhane and Susan M Wachter. "The Differential Impacts of Federally Assisted Housing Programs on Nearby Property Values: A Philadelphia Case Study" (1999)
Available at: http://works.bepress.com/dennis_culhane/11/