TY - JOUR
T1 - Affordability After Subsidies
T2 - Understanding the Trajectories of Former Assisted Housing in Florida
AU - Blanco, Andres G.
AU - Kim, Jeongseob
AU - Ray, Anne
AU - Stewart, Caleb
AU - Chung, Hyungchul
N1 - Publisher Copyright:
© 2014, © 2014 Virginia Polytechnic Institute and State University.
PY - 2015/4/3
Y1 - 2015/4/3
N2 - Each year, thousands of units are lost from the assisted rental housing inventory through deterioration and default, subsidy expiration, and market-rate conversion. While a good deal of research and data collection has focused on identifying at-risk developments, less is known about what happens to former assisted developments after they exit income and rent restrictions. This article uses a survey of former assisted properties in Florida to identify their postsubsidy trajectories—that is, as to whether developments continue as rental housing, are converted to condominiums, or leave the housing stock through vacancy and demolition; and for those that continue as rental housing, whether they continue to offer affordable rents. Using logistic regression models, the article examines the property, housing market, and neighborhood characteristics that determine these trajectories. The results show that smaller properties, those that have been out of subsidy programs longer, and those in stronger neighborhood housing markets are more likely to be converted to condominiums. Among developments that continue as rental housing, those that previously had more stringent rent restrictions, those in strong rental submarkets, and those with better transit access tend to become unaffordable compared with previous rent limits.
AB - Each year, thousands of units are lost from the assisted rental housing inventory through deterioration and default, subsidy expiration, and market-rate conversion. While a good deal of research and data collection has focused on identifying at-risk developments, less is known about what happens to former assisted developments after they exit income and rent restrictions. This article uses a survey of former assisted properties in Florida to identify their postsubsidy trajectories—that is, as to whether developments continue as rental housing, are converted to condominiums, or leave the housing stock through vacancy and demolition; and for those that continue as rental housing, whether they continue to offer affordable rents. Using logistic regression models, the article examines the property, housing market, and neighborhood characteristics that determine these trajectories. The results show that smaller properties, those that have been out of subsidy programs longer, and those in stronger neighborhood housing markets are more likely to be converted to condominiums. Among developments that continue as rental housing, those that previously had more stringent rent restrictions, those in strong rental submarkets, and those with better transit access tend to become unaffordable compared with previous rent limits.
KW - assisted housing
KW - preservation of affordable housing
KW - rental housing
UR - http://www.scopus.com/inward/record.url?scp=85028147416&partnerID=8YFLogxK
U2 - 10.1080/10511482.2014.941902
DO - 10.1080/10511482.2014.941902
M3 - Article
AN - SCOPUS:85028147416
SN - 1051-1482
VL - 25
SP - 374
EP - 394
JO - Housing Policy Debate
JF - Housing Policy Debate
IS - 2
ER -