MYTH: Affordable housing will drive down property values.
REALITY: Repeated research has shown that affordable housing has no negative impact on the
price or frequency of sales of neighboring homes. A recent study of four very-low-income
family housing developments in suburban Chicago – Victorian Park in Streamwood, Liberty
Lakes Apartments in Lake Zurich, Waterford Park Apartments in Zion, and Brookhaven
Apartments in Gurnee – revealed that affordable housing can have a positive impact on
surrounding property values. A Wisconsin study of housing constructed under the Low Income
Housing Tax Credit program concluded that property values surrounding these developments
rose, even in relatively affluent areas. In addition, mixed-income buildings can boost the
residential real estate market in many areas by replacing the blighted buildings that keep real
estate values low. Numerous studies over time from around the country support the general
notion that affordable housing has no negative impact on surrounding property values—
especially if it is thoroughly integrated into the neighborhood. Read the full article
