Filtering to Affordable: Does Multifamily Housing Become More Affordable as It Ages?
Document Type
Article
Publication Date
2-7-2022
Abstract
Housing affordability and potential sources of affordable housing remain national concerns. Using the 10 largest metropolitan statistical areas (MSAs), this study measures the degree to which a multifamily housing property’s age affects its affordability, hence examining the rate at which a necessary step in the filtering process is taking place. We find that a property’s affordability increases by about 2.7% during the first decade of its existence and by about 0.5–1% every following decade, with some variation across MSAs. While this indicates that filtering could be taking place at a relatively slow rate, we show that this can add up to significant rent savings for a low-income family. Lastly, we conduct two follow-up case studies of affordability in Atlanta and Philadelphia.
DOI
https://doi.org/10.1080/08965803.2021.2014632
Recommended Citation
Mueller, Andrew G.; Terschan, Lauren; and PlaHovinsak II, Thomas J., "Filtering to Affordable: Does Multifamily Housing Become More Affordable as It Ages?" (2022). Business & Economics Faculty Publications. 83.
https://digitalcommons.longwood.edu/business_facpubs/83
Original Citation
Mueller, A., Terschan, L., PlaHovinsak, T. J. (2022). Filtering to Affordable: Does Multifamily Housing Become More Affordable As It Ages? Journal of Real Estate Research.
