Publications
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Policy Brief: 21st Century SROs: Can Small Housing Units Help Meet the Need for Affordable Housing in New York City?
This brief explores the potential demand for smaller, cheaper units to help address New York City’s affordable housing need. It considers the feasibility of self-contained micro units as well as efficiency units with shared kitchens and/or baths. The report considers the economics of building and operating small units and models their financial feasibility. It concludes by analyzing the main barriers to the creation of small units that exist in New York City and suggesting possible reforms that New York City can make to address these barriers.
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21st Century SROs: Can Small Housing Units Help Meet the Need for Affordable Housing in New York City?
Single-room occupancy housing (SROs) used to be a readily available affordable housing type in New York City. During the second half of the 20th century, many SROs came to serve as housing of last resort, and mounting criticism of SROs led to laws banning their construction and discouraging their operation. Today, New York City faces a significant housing affordability crisis. In this context, it is worth considering whether the city needs an updated housing model that helps meet the need SROs filled in the last century. Here we analyze the benefits, risks, and challenges of reintroducing small housing units (self-contained micro units and efficiency units with shared facilities) in order to shed light on whether and how a new small-unit model could help meet the demand for affordable housing in the city today.
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How Do Small Area FMRs Affect the Location and Number of Units Affordable to Voucher Holders?
This brief explores how the location and number of homes affordable to voucher holders will change in the 24 metro areas mandated by HUD to adopt Small Area Fair Market Rents (“Small Area FMRs”). The change to Small Area FMR—a more localized rent measures as a determinant of subsidy standards—is designed to allow housing choice voucher holders to rent homes in a wider variety of areas. The analysis finds that switching to Small Area FMRs would open up options for voucher holders in high-rent ZIP Codes while reducing them in low-rent ZIP Codes. In addition, the aggregate number of units affordable to voucher holders in these 24 metros would increase with the use of Small Area FMRs.
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Population and Housing in the Floodplain Battered by Hurricanes Harvey and Irma
In conjunction with the launch of FloodzoneData.us, the NYU Furman Center released a series of data briefs to illustrate the housing and population located in the U.S. floodplains. The third brief in the series, Population and Housing in the Floodplain Battered by Hurricanes Harvey and Irma, describes the housing and population located in the floodplains of metropolitan areas affected by hurricanes in recent months, including Houston, Miami, Tampa, and Jacksonville. The analysis describes the housing stock (including tenure, size, and number of subsidized housing units) and population demographics (including poverty rates, households with children and seniors, and race/ethnicity) in floodplains within these metro areas.
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Population in the U.S. Floodplains
In conjunction with the launch of FloodzoneData.us, the NYU Furman Center released a series of data briefs to illustrate the housing and population located in the U.S. floodplains. The second brief in the series, Population in the U.S. Floodplains, explores the characteristics of the population located in the 100-year floodplain and the combined floodplain (100-year and 500-year floodplain), nationwide. In 2015, more than 30 million people (10% of the U.S. population) lived in the combined floodplain.
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Airbnb Usage Across New York City Neighborhoods: Geographic Patterns and Regulatory Implications
This paper offers new empirical evidence about actual Airbnb usage patterns and how they vary across neighborhoods in New York City. We combine unique, census-tract level data from Airbnb with neighborhood asking rent data from Zillow and administrative, census, and social media data on neighborhoods. We find that as usage has grown over time, Airbnb listings have become more geographically dispersed, although centrality remains an important predictor of listing location. Neighborhoods with more modest median household incomes have also grown in popularity, and disproportionately feature “private room” listings (compared to “entire home” listings). We find that compared to long-term rentals, short-term rentals do not appear to be as profitable as many assume, and they have become relatively less profitable over our time period. Additionally, short-term rentals appear most profitable relative to long-term rentals in outlying, middle-income neighborhoods. Our findings contribute to an ongoing regulatory conversation catalyzed by the rapid growth in the short-term rental market, and we conclude by bringing an economic lens to varying approaches proposed to target and address externalities that may arise in this market.
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Renting in America’s Large Metros: The 2017 National Rental Housing Landscape
The National Rental Housing Landscape, released annually by the NYU Furman Center, examines rental housing trends in the nation’s largest metropolitan areas. The study includes all 53 U.S. metros with over one million people in 2015, which contained 165 million people (65 million households) and covered 63% of the U.S. population.
Renting in America's Large Metros: The 2017 National Rental Housing Landscape observes trends and makes available data on renter demographics, renter households, renter housing affordability, and the rental housing stock for each of the 53 metro areas in the sample.
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Katherine M. O’Regan Testimony to U.S. Senate Committee on Finance Hearing on Affordable Housing
On Tuesday, August 1, 2017, Dr. Katherine O’Regan, faculty of NYU Wagner and Faculty Director at the NYU Furman Center, testified at the United State Senate Committee on Finance’s hearing entitled, “America’s Affordable Housing Crisis: Challenges and Solutions.” Dr. O’Regan’s statement outlines the extent of the nation’s affordable housing crisis and its consequences for households and markets. In discussing the federal government’s role in responding to the crisis, she discusses three proposed reforms to the Low Income Housing Tax Credit to “increase its flexibility and feasibility in a broader set of market conditions, to streamline, and to more effectively meet key policy goals.” Read Dr. O'Regan's full statement or watch a video of the hearing.
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Housing in the U.S. Floodplains
This brief, presented in conjuction with FloodzoneData.us describes characteristics about the housing stock located in the U.S. floodplains. Between 2011 and 2015, five percent of all occupied housing units in the United States were located in the 100-year floodplain, and 10 percent were located in combined (100- and 500-year) floodplains. The brief details factors that are important to understand when assessing the risk from flooding and the challenges of retrofitting, including the shares that are rental and owner-occupied, the age of the housing, and whether the housing is government subsidized.
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The Effects of the Low-Income Housing Tax Credit (LIHTC)
The Low-Income Housing Tax Credit (LIHTC) Program is the largest federal subsidy for the development and preservation of affordable housing. Since it was established by the Tax Reform Act of 1986, LIHTC has financed the development and preservation of more than 2.1 million units in over 28,000 developments across the country. As federal tax reform looms, however, there is growing uncertainty surrounding the future of LIHTC. In contemplation of debate about these possible changes, this brief explores what we know about who LIHTC serves and what research has shown about the impact of the program.