At a routine zoning meeting, a homeowner steps to the microphone and delivers a familiar warning: new apartments will “hurt property values” and “change the character of the neighborhood.” This scene plays out in cities across the country, as housing reform proposals move from local councils to statehouses — and now, to the federal government.
These claims are pervasive and persistent. They are also, despite their intuitive appeal, not supported by the evidence.
The fear is understandable. Allowing duplexes or small apartment buildings in single-family neighborhoods can feel like a fundamental change. If new construction is meant to lower housing costs, it seems logical to assume it will lower nearby home values as well…