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An analysis of the impact of rent control on New York City housing

Author

Listed:
  • Benjamin W. Schweitzer

    (Miami University)

  • Robert C. Garrett

    (Miami University)

  • Lydia Carter

    (Miami University)

  • Alison Tuiyott

    (Miami University)

  • Karsten Maurer

    (Miami University)

  • Thomas J. Fisher

    (Miami University)

Abstract

It is the concern of policymakers every year in New York City to consider whether or not the enacted rent control policy has a positive effect on the rental market. In order to measure the efficacy of the rent control policy, we aim to study the change in housing quality of people who live in rent controlled homes compared to those in non-rent controlled homes. A housing quality index metric was created in order to study how housing quality changes over time and its relationship to rent control. The impact of rent control on housing quality is analyzed, thus assessing one measure of policy effectiveness. The analysis indicates that rent controlled homes are associated with higher damage rates than non-rent controlled homes, perhaps indicating that the inverse of the intended effect is occurring.

Suggested Citation

  • Benjamin W. Schweitzer & Robert C. Garrett & Lydia Carter & Alison Tuiyott & Karsten Maurer & Thomas J. Fisher, 2023. "An analysis of the impact of rent control on New York City housing," Computational Statistics, Springer, vol. 38(4), pages 1643-1656, December.
    • Handle: RePEc:spr:compst:v:38:y:2023:i:4:d:10.1007_s00180-023-01397-7
    DOI: 10.1007/s00180-023-01397-7
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    References listed on IDEAS

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    2. Daniel Goldstein & Elyzabeth Gaumer & Wendy Martinez, 2023. "The 2019 data challenge expo of the American Statistical Association," Computational Statistics, Springer, vol. 38(4), pages 1621-1627, December.
    3. Moon, Choon-Geol & Stotsky, Janet G, 1993. "The Effect of Rent Control on Housing Quality Change: A Longitudinal Analysis," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1114-1148, December.
    4. Rebecca Diamond & Tim McQuade & Franklin Qian, 2019. "The Effects of Rent Control Expansion on Tenants, Landlords, and Inequality: Evidence from San Francisco," American Economic Review, American Economic Association, vol. 109(9), pages 3365-3394, September.
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    7. Olsen, Edgar O, 1972. "An Econometric Analysis of Rent Control," Journal of Political Economy, University of Chicago Press, vol. 80(6), pages 1081-1100, Nov.-Dec..
    8. Fisher, Thomas J. & Sun, Xiaoqian, 2011. "Improved Stein-type shrinkage estimators for the high-dimensional multivariate normal covariance matrix," Computational Statistics & Data Analysis, Elsevier, vol. 55(5), pages 1909-1918, May.
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    Cited by:

    1. Daniel Goldstein & Elyzabeth Gaumer & Wendy Martinez, 2023. "The 2019 data challenge expo of the American Statistical Association," Computational Statistics, Springer, vol. 38(4), pages 1621-1627, December.

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