Abstract
ABSTRACT This study reviews the existing literature on affordable housing and examines the validity of one of the commonly held beliefs that affordable housing projects reduce the neighborhood property values. In doing so we attempt to clear some of the conventional myths surrounding affordable housing developments. The study found factors such as, funding source/type, location, tenant mix, project size, property maintenance, and tenant counselling may significantly increase the property values proximity to affordable housing projects and improve the quality of the neighborhoods. This assertion is derived based on evidences from academic research conducted over last two decades. Considering a sharp increase in the number of severely cost-burdened households in the U.S. (8 million in 2015) who are paying more than 50 percent of income on housing, we believe it is extremely important that the state and the federal agencies need to devote more tax dollars for affordable housing. Keywords affordable housing, low-income, property values, myths, CDC, LIHTC
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