This brief synthesizes the findings of several reviews of research examining whether affordable housing causes a decline in nearby property values, with a special focus on the work of Ingrid Ellen and her colleagues who examined the impacts on nearby property values of affordable housing built or rehabilitated in New York City.

In general, researchers find that affordable housing does not adversely impact the value of neighboring properties, and may actually improve values in some cases. Key factors that are associated with stable or increased property values include an attractive design that blends with the surrounding neighborhood and strong property management. Other factors are more dependent on the neighborhood: high concentrations of new or rehabilitated affordable homes can help to improve distressed areas, but in stronger neighborhoods the data suggest that concentrations of affordable housing should be avoided.