Housing for the homeless doesn’t decrease property value, report says

Housing for the homeless doesn’t depress the value of neighboring homes and
properties, according to a report released today by the Furman
Center for Real Estate and Public
Policy at New York
University. The report
studied 123 supportive housing developments in the city over an 18-year period, and found
that the value of the properties within 500 feet did not drop over the long
term after the housing opened. Prices of properties 500 to 1,000 feet from the
supportive housing may fall somewhat while buildings are being built and as
they open, but then steadily increase relative to other neighborhood properties.

Sign Up for the undefined Newsletter