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Immigration and housing rents in American cities

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Author Info
Albert Saiz

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Abstract

Is there a local economic impact of immigration? Immigration pushes up rents and housing values in destination cities. The positive association of rent growth and immigrant inflows is pervasive in time series for all metropolitan areas. The author uses instrumental variables based on a "shift-share" of national levels of immigration into metropolitan areas. Conditioning on other variables, an immigration inflow equal to 1 percent of the city population is associated with increases in rents and housing values of about 1 percent. The results suggest an economic impact that is an order of magnitude bigger than that found on labor markets.

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Paper provided by Federal Reserve Bank of Philadelphia in its series Working Papers with number 03-12.

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Date of creation: 2003
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Handle: RePEc:fip:fedpwp:03-12

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Related research
Keywords: Emigration and immigration ; Housing - Prices;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Blackwell Publishing, vol. 58(2), pages 277-97, April. [Downloadable!] (restricted)
  2. George J. Borjas & Richard B. Freeman & Lawrence F. Katz, 1991. "On the Labor Market Effects of Immigration and Trade," NBER Working Papers 3761, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Per-Anders Edin & Peter Fredriksson & Olof Åslund, 2003. "Ethnic Enclaves And The Economic Success Of Immigrants - Evidence From A Natural Experiment," The Quarterly Journal of Economics, MIT Press, vol. 118(1), pages 329-357, February. [Downloadable!] (restricted)
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  4. Albert Saiz, 2003. "Room in the Kitchen for the Melting Pot: Immigration and Rental Prices," The Review of Economics and Statistics, MIT Press, vol. 85(3), pages 502-521, 05. [Downloadable!] (restricted)
  5. Ethan Lewis, 2004. "How did the Miami labor market absorb the Mariel immigrants?," Working Papers 04-3, Federal Reserve Bank of Philadelphia. [Downloadable!]
  6. Dominique M. Gross, 1999. "Three Million Foreigners, Three Million Unemployed? Immigration and the French Labor Market," IMF Working Papers 99/124, International Monetary Fund.
  7. Edward L. Glaeser & Jed Kolko & Albert Saiz, 2000. "Consumer City," Harvard Institute of Economic Research Working Papers 1901, Harvard - Institute of Economic Research. [Downloadable!]
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  8. Case, Karl E & Shiller, Robert J, 1989. "The Efficiency of the Market for Single-Family Homes," American Economic Review, American Economic Association, vol. 79(1), pages 125-37, March. [Downloadable!] (restricted)
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  9. G. Donald Jud & John D. Benjamin & G. Stacy Sirmans, 1996. "What Do We Know about Apartments and Their Markets?," Journal of Real Estate Research, American Real Estate Society, vol. 11(3), pages 243-258. [Downloadable!]
  10. Albert Saiz, 2003. "Immigration and housing rents in American cities," Working Papers 03-12, Federal Reserve Bank of Philadelphia. [Downloadable!]
    Other versions:
  11. Edin, P.-A. & Fredriksson, P. & Aslund, O., 2000. "Evidence from a Natural Experiment," Papers 2000-21, Uppsala - Working Paper Series.
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  12. Edward L. Glaeser & Albert Saiz, 2003. "The Rise of the Skilled City," NBER Working Papers 10191, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  13. George J. Borjas, 1994. "The Economic Benefits from Immigration," NBER Working Papers 4955, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  14. Jordan Rappaport, 1999. "Local Growth Empirics," CID Working Papers 23, Center for International Development at Harvard University. [Downloadable!]
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  15. Friedberg, Rachel M & Hunt, Jennifer, 1995. "The Impact of Immigrants on Host Country Wages, Employment and Growth," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 23-44, Spring. [Downloadable!] (restricted)
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  16. Richard Meese & Nancy Wallace, 2006. "Dwelling Price Dynamics in Paris, France," Berkeley Program on Housing and Urban Policy, Working Paper Series 1004, Berkeley Program on Housing and Urban Policy. [Downloadable!]
  17. Joseph G. Altonji & David Card, 1989. "The Effects of Immigration on the Labor Market Outcomes of Natives," NBER Working Papers 3123, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  18. Kaivan Munshi, 2003. "Networks In The Modern Economy: Mexican Migrants In The U.S. Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 118(2), pages 549-599, May. [Downloadable!] (restricted)
  19. Gordon H. Hanson & Antonio Spilimbergo, 1999. "Illegal Immigration, Border Enforcement, and Relative Wages: Evidence from Apprehensions at the U.S.-Mexico Border," American Economic Review, American Economic Association, vol. 89(5), pages 1337-1357, December. [Downloadable!] (restricted)
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  20. George J. Borjas, 1994. "The Economics of Immigration," Journal of Economic Literature, American Economic Association, vol. 32(4), pages 1667-1717, December. [Downloadable!] (restricted)
  21. Dennis R. Capozza & Patric H. Hendershott & Charlotte Mack & Christopher J. Mayer, 2002. "Determinants of Real House Price Dynamics," NBER Working Papers 9262, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  22. David Genesove, 1999. "The Nominal Rigidity of Apartment Rents," NBER Working Papers 7137, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  23. David Card, 1989. "The Impact of the Mariel Boatlift on the Miami Labor Market," NBER Working Papers 3069, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  24. Andrew Levin & Chien-Fu Lin, 1992. "Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties," University of California at San Diego, Economics Working Paper Series 92-23, Department of Economics, UC San Diego. [Downloadable!]
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Albert Saiz, 2006. "Immigration and Housing Rents in American Cities," IZA Discussion Papers 2189, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  2. David C. Maré & Steven Stillman & Melanie Morten, 2007. "Settlement Patterns and the Geographic Mobility of Recent Migrants to New Zealand," Working Papers 07_11, Motu Economic and Public Policy Research. [Downloadable!]
  3. Lemos, Sara & Portes, Jonathan, 2008. "New Labour? The Impact of Migration from Central and Eastern European Countries on the UK Labour Market," IZA Discussion Papers 3756, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  4. Steven Stillman & David C. Maré, 2007. "The Impact of Immigration on the Geographic Mobility of New Zealanders," Working Papers 07_05, Motu Economic and Public Policy Research. [Downloadable!]
    Other versions:
  5. Libertad González & Francesc Ortega, 2008. "How Do Very Open Economies Absorb Large Immigration Flows? Recent Evidence from Spanish Regions," Economic Reports 06-08, FEDEA. [Downloadable!]
    Other versions:
  6. David Card, 2007. "How Immigration Affects U.S. Cities," CReAM Discussion Paper Series 0711, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London. [Downloadable!]
  7. Erica Greulich & John Quigley & Steven Raphael, 2006. "The Anatomy of Rent Burdens: Immigration, Growth and Rental Housing," Berkeley Program on Housing and Urban Policy, Working Paper Series 1049, Berkeley Program on Housing and Urban Policy. [Downloadable!]
  8. Giovanni Peri & Chad Sparber, 2007. "Task Specialization, Comparative Advantages, and the Effects of Immigration on Wages," NBER Working Papers 13389, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  9. Jacques Poot & Bill Cochrane, 2005. "Measuring the Economic Impact of Immigration: A Scoping Paper," Population Studies Centre Discussion Papers dp-48, University of Waikato, Population Studies Centre. [Downloadable!]
  10. Ottaviano, Gianmarco I.P. & Peri, Giovanni, 2004. "The Economic Value of Cultural Diversity: Evidence from US Cities," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  11. Milo Bianchi & Paolo Buonanno & Paolo Pinotti, 2008. "Immigration and crime: an empirical analysis," Temi di discussione (Economic working papers) 698, Bank of Italy, Economic Research Department. [Downloadable!]
  12. Steven Stillman & David C. Maré, 2008. "Housing Markets and Migration: Evidence from New Zealand," Working Papers 08_06, Motu Economic and Public Policy Research. [Downloadable!]
  13. Giovanni Peri & Chad Sparber, 2008. "Task Specialization, Immigration, and Wages," CReAM Discussion Paper Series 00802, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London. [Downloadable!]
    Other versions:
  14. Edward L. Glaeser & Albert Saiz, 2003. "The Rise of the Skilled City," NBER Working Papers 10191, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  15. Andrew Coleman & John Landon-Lane, 2007. "Housing Markets and Migration in New Zealand, 1962-2006," Reserve Bank of New Zealand Discussion Paper Series DP2007/12, Reserve Bank of New Zealand. [Downloadable!]
  16. Longhi, Simonetta & Nijkamp, Peter & Poot, Jacques, 2008. "Meta-Analysis of Empirical Evidence on the Labour Market Impacts of Immigration," IZA Discussion Papers 3418, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  17. Albert Saiz & Susan Wachter, 2006. "Immigration and the Neighborhood," IZA Discussion Papers 2503, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  18. Milo Bianchi & Paolo Buonanno & Paolo Pinotti, 2008. "Do immigrants cause crime?," PSE Working Papers 2008-05, PSE (Ecole normale supérieure), revised Nov 2008. [Downloadable!]
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