Real Estate Papers

Author(s)

Albert Saiz

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

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Date Posted: 27 November 2017