Abstract
This article analyzes Beijing's subterranean housing market within the context of the city's larger housing supply system. The emergence of this widespread market of rooms for rent in bomb shelters and basements indicates a demand for housing attributes that neither the mainstream private housing market nor public housing programs yet supply. The study collected market data about these rental units from internet ads during October 2012–September 2013 and mapped their locations, displaying their general spatial distribution. Next, a hedonic price model was deployed on this data which reveals the relative priorities and preferences in price levels, location, and housing amenities of the middle–lower income population, particularly migrants who do not possess hukou, Chinese urban residence rights.
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