Has Competition Led to Healthier Neighborhood Effects? A Study of Low-Income Housing Tax Credit Projects Built by Three Sectors
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October 2009
Lan Deng
Abstract
Using a difference-in-difference hedonic regression approach, this study examines the external neighborhood effects of Low-Income Housing Tax Credit Projects built in Santa Clara County from 1987 to 2000. It finds that a majority of the LIHTC projects examined have generated significantly positive impacts on nearby property value. The impacts also vary by project size, neighborhood context, and type of developer. Low-income neighborhoods, for example, have benefited more from LIHTC developments than other types of neighborhoods. This study also finds that for-profit projects have delivered benefits similar to those of nonprofit projects, a result of both government incentives and market competition. Yet projects built by some of the largest nonprofits and the county housing authority have generated the greatest neighborhood impacts.
Download in pdf formatKeywords: Housing, Public Finance & Taxation
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