Immigration and housing rents in American cities
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 cityâs 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.(This abstract was borrowed from another version of this item.)
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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;Other versions of this item:
- Saiz, Albert, 2007. "Immigration and housing rents in American cities," Journal of Urban Economics, Elsevier, vol. 61(2), pages 345-371, March.
- Albert Saiz, 2006. "Immigration and Housing Rents in American Cities," IZA Discussion Papers 2189, Institute for the Study of Labor (IZA).
- J61 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Geographic Labor Mobility; Immigrant Workers
- R23 - Urban, Rural, Regional and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
- R31 - Urban, Rural, Regional and Transportation Economics - - Housing Markets, Production Analysis, and Firm Location - - - Housing Supply and Markets
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-08-09 (All new papers)
- NEP-URE-2004-08-09 (Urban & Real Estate Economics)
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