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Small and medium multifamily housing: affordability and availability

Author

Listed:
  • Brian Y. An
  • Raphael W. Bostic
  • Andrew Jakabovics
  • Anthony W. Orlando
  • Seva Rodnyansky

Abstract

Housing units in small and medium multifamily (SMMF) properties, defined as buildings with 2 to 49 units, comprise over 20% of the U.S. housing stock. Using the American Community Survey and American Housing Survey, this study fills an important gap in the literature by examining the affordability and availability of these housing units. This analysis reveals that SMMF units contain the largest percentage of the lowest-income households and the majority of rental units across the country. It employs models of filtering and quality-adjusted rents to decompose the factors that make these units accessible to such households. Even after controlling for these factors, their affordability persists, and their market share is declining. These findings raise concerns about the future availability of these affordable units. Policy-relevant conclusions are drawn about their role in the future of local, regional, and national economies.

Suggested Citation

  • Brian Y. An & Raphael W. Bostic & Andrew Jakabovics & Anthony W. Orlando & Seva Rodnyansky, 2022. "Small and medium multifamily housing: affordability and availability," Housing Studies, Taylor & Francis Journals, vol. 37(7), pages 1274-1297, August.
    • Handle: RePEc:taf:chosxx:v:37:y:2022:i:7:p:1274-1297
    DOI: 10.1080/02673037.2020.1842339
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Trends in the construction of multifamily housing : The missing middle
      by ? in FRED blog on 2023-07-06 13:00:00

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