Low-Income Housing Tax Credit Developments and Neighborhood Property Conditions

36 Pages Posted: 17 Apr 2018

See all articles by Kelly D. Edmiston

Kelly D. Edmiston

Center for Insurance Policy & Research / NAIC; University of Kansas - School of Medicine; University of Missouri; Baker University

Date Written: March 2018

Abstract

Public housing has long been a contentious issue for cities and regions. On one hand, there is an acute need for affordable housing in low- and moderate-income communities. But the massing of public or otherwise subsidized housing in disadvantaged neighborhoods has given rise to concerns that “public housing” has led to decay in these communities. The purpose of this paper is to use analytical tools to evaluate the “conventional wisdom” that lower-income housing developments lead to decay the lower-income communities in which they generally are placed. I use a highly unique dataset on property conditions for tens of thousands of individual land parcels and an approach for estimating count data models based on the Conway-Maxwell Poisson (CMP) distribution. The CMP is useful for estimating models with under dispersed data, which is uncommon. Results suggest that while large rehab developments tend to enhance property conditions nearby, the effects of other types of developments generally are negative.

JEL Classification: R31, H54, I38

Suggested Citation

Edmiston, Kelly D., Low-Income Housing Tax Credit Developments and Neighborhood Property Conditions (March 2018). Federal Reserve Bank of Kansas City Working Paper No. RWP 11-10, Available at SSRN: https://ssrn.com/abstract=3156640 or http://dx.doi.org/10.2139/ssrn.3156640

Kelly D. Edmiston (Contact Author)

Center for Insurance Policy & Research / NAIC ( email )

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University of Kansas - School of Medicine ( email )

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University of Missouri ( email )

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Baker University ( email )

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