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Dr. Richard Voith's research on the effects of concentrated low income housing tax credit (LIHTC) development on surrounding house prices has been cited in the White House's Economic Report of the President.
The analysis shows that stand-alone and clustered LIHTC properties have positive spillover effects on property prices in the surrounding communities. Moreover, neighborhoods with 3 or more LIHTC developments had even larger positive spillovers on neighboring property values. The largest impacts occurred within ¼ of a mile of the LIHTC development and diminished as distance from it increased, with property prices experiencing positive impacts up to ½ mile away from the LIHTC development. These positive spillovers were evident across a variety of neighborhoods including low-income neighborhoods and higher-income neighborhoods, including both neighborhoods with larger Black populations and in those with lower Black populations.
Read the full research paper here.
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