Real Estate Papers
Document Type
Journal Article
Date of this Version
3-2007
Publication Source
Journal of Urban Economics
Volume
61
Issue
2
Start Page
345
Last Page
371
DOI
10.1016/j.jue.2006.07.004
Abstract
Is there a local economic impact of immigration? Immigration pushes up rents and housing values in US destination cities. The positive association of rent growth and immigrant inflows is pervasive in time series for all metropolitan areas. I use instrumental variables based on a “shift-share” of national levels of immigration into metropolitan areas. An immigration inflow equal to 1% of a city's population is associated with increases in average rents and housing values of about 1%. The results suggest an economic impact that is an order of magnitude bigger than that found in labor markets.
Copyright/Permission Statement
© 2007. This manuscript version is made available under the CC-BY-NC-ND 4.0 license.
Keywords
immigration, housing prices
Recommended Citation
Saiz, A. (2007). Immigration and Housing Rents in American Cities. Journal of Urban Economics, 61 (2), 345-371. http://dx.doi.org/10.1016/j.jue.2006.07.004
Date Posted: 27 November 2017