Affordable housing - Publications
The Federal Reserve Board has released its sixth annual Report on the Economic Well-Being of U.S. Households. Based on the Board's annual Survey of Household Economics and Decisionmaking conducted in October and November of 2018, the report provides insights on individuals’ income, employment, dealing with expenses, bank and credit access, housing decisions, education, student loans, and retirement. A new topic in this year’s report—aimed at understanding the experiences of bank customers—is the ability of adults to access funds in their bank accounts.
In this paper, the authors provide a regional snapshot of housing affordability and the availability of affordable rental housing units at several scales for the Atlanta Fed's district, using data from the 2015 American Community Survey. The results demonstrate the widespread lack of affordable housing in large metropolitan areas, small and midsized regions, and nonmetro regions throughout the Southeast. The authors also show that extremely low- and very low-income households are disproportionately cost-burdened.
Nearly 10 years have passed since Hurricane Ike hit Galveston, Texas, yet many low- and moderate-income neighborhoods and affordable homes have not been rebuilt or replaced. The result is a community that is less economically diverse and more likely to face serious workforce challenges in the coming years. This new Dallas Fed report explores the impact of redevelopment efforts and gentrification on Galveston specifically, but the lessons learned can inform individuals and communities recovering from recent natural disasters across the U.S.
This issue of Community Scope examines how in Washington, D.C., a network of organizers, government agency staff and affordable housing advocates have cooperatively developed quantitative and qualitative housing data to address the loss of subsidized, rent stabilized and market-affordable housing in gentrifying neighborhoods.
This issue of the Community Pulse presents the findings from our 2017 survey. Amount of/and or access to affordable housing, skill level of local labor force and general poverty were the top three current issues in the fifth district.
This issue of 5th District Footprint examines how counties and independent cities in the Fifth District use the Low-Income Housing Tax Credit (LIHTC) to produce affordable housing units.
The availability of affordable housing in the Southeast is an increasing challenge, especially in areas of opportunity that have jobs, good schools and public transit. In light of these challenges, sources of funding for affordable housing are more important, and competitive, than ever. This article explores the Low-Income Housing Tax Credit (LIHTC) program, one of the best-known and most competitive sources of funding for affordable housing construction.
Quality housing is increasingly out of reach for low- and moderate-income households in the United States. For policymakers and researchers, the issue can often be seen as an abstraction, with discussion centering on housing prices, average ratios of rent-to-income, and "demographic change." This article highlights an Atlanta Fed event that highlighted some of the human stories hidden in the numbers.
This article analyzes real estate transaction data to understand trends in multifamily informal mortgages and the market conditions in which they are likely to occur.
As a proponent and facilitator of more equitable and inclusive communities, the Atlanta Fed’s community and economic development (CED) program works to activate financial, human, and social capital to foster economic growth and opportunity in low- and moderate-income communities in the Southeast. This article recaps a November 3, 2016, community tour that Atlanta Fed employees from CED and supervision and regulation organized for Fed Governor Lael Brainard. It was one of several trips she has made around the country to speak with community members and organizations about local challenges and community development efforts.
Infographics and data visualization tools are increasingly available from many sources, such as an interactive map accompanying a news article or a graph of expenditures analyzing an online credit card statement. These types of tools enrich our understanding of concepts and trends. This article examines two tools that aim to capture the real variation between housing and transportation costs between and within regions, and therefore the relative affordability for households of varying income levels.
This paper sets a framework for building transformative economies. Prepared by Paul C. Brophy, Robert Weissbourd, Andy Beideman for the Economic Growth and Mobility Project, the authors share policy levels to foster inclusive growth practices and highlight emerging approaches and innovative programs in regions across the country.
Over the past decade, housing costs have risen faster than incomes. The need for affordable rental housing has well outpaced the number of available units as well as funding allocations at the federal level. Local regulation and land use policies that increase the cost of subsidized, mixed-income housing construction and preservation have contributed to the affordability problem. This discussion paper explores new ideas about how affordable housing in an economically integrated, mixed-income community setting could be developed and operated in an environment of declining government subsidies.
In the July 2017 edition of Housing Market Perspectives, St. Louis Fed economist Bill Emmons considers homeowner's equity, or HOE, as the single largest component of wealth for black and Latino families, accounting for nearly half of those families' wealth as opposed to roughly a third for Asian and other families and about a quarter for white families.
An analysis shows that since the housing crash, mortgage denial rates in the Ninth Federal Reserve District are higher in rural areas than in urban areas. From Community Dividend, a publication of the Minneapolis Fed.
In the March 2017 edition of Housing Market Perspectives, St. Louis Fed economist Bill Emmons examines whether the U.S. housing market could be facing conditions like those of 2013, when rising mortgage rates associated with the so-called “taper tantrum” started to pressure the housing markets.
Read about C&B's transformation this fall into our new online magazine, Invested. Our spring 2017 feature article shares valuable lessons from the Boston Fed's Working Cities Challenge, an ongoing initiative to help smaller industrial cities in New England tackle social and economic problems. Also in this issue, we learn about the perils and abuses of land installment contracts, the value of community benefits agreements, and how entrepreneurship breeds opportunity in minority communities. Other articles highlight the importance of anchor institutions to local businesses, how "gamified" financial education seems to reinforce smart savings decisions, and we see evidence that pay-for-success approaches to preventing formerly incarcerated youth from reoffending can turn young lives around. Finally, we examine recent changes in the prospects for renters in New England.
In 2016, the Federal Reserve Bank of San Francisco held a series of roundtable discussions across the Western states to examine drivers of the recent rise in involuntary part-time employment and the impact it has on lower-income households. This paper summarizes existing research on the topic of underemployment, discusses themes that surfaced during the locally focused meetings, and proposes ways to address the underlying causes through solutions that build on the interrelated nature of housing, jobs, transportation, and child care.
The second issue of Community Scope 2016 examines the patterns in geographic service provision by respondent CDFIs in urban, rural, low- and moderate-income (LMI), underserved and distressed markets and areas.
Corporate Landlords, Institutional Investors, and Displacement: Eviction Rates in Single-Family Rentals
Institutional investors purchased thousands of homes across the country to rent them after the real estate and financial crisis. In this December 2016 Community and Economic Development Discussion Paper from the Atlanta Fed, authors examine how the rise of the large corporate landlord in the single-family rental market affected housing stability in Atlanta.
Philadelphia has experienced increased rental housing affordability challenges in recent years, especially in neighborhoods that have undergone gentrification. This report explores one aspect of gentrification’s impact on housing costs by examining its association with changes in Philadelphia’s stock of units that rent for less than $750 per month.
The fall 2016 issue leads off with the necessity of teachers of color in public school systems and also reports on local educators' reactions to Common Core implementation. Other topics include the high prevalence of young adults receiving Social Security Disability benefits in northern New England, an overview of the region's addiction epidemic, a look at unemployment and the popularity of lotteries in Maine, and the relationship between homelessness and subsidized housing. More articles cover the Capital & Collaboration initiative's examination of community investment in Massachusetts Working Cities, how mobile payments help streamline commuting, a collaboration between Starbucks and a nonprofit group of CDFIs to create jobs, and data on childhood food insecurity in New England.
In this first issue of its new Community Outlook Series, the Dallas Fed analyzes results from a poll of 52 affordable housing developers in over 24 Texas counties, and includes qualitative interviews that address housing challenges for providers and low- and moderate-income families across the state. Key findings include: A third of all Texans are housing cost-burdened and developers face issues from rising costs, insufficient funding, strict regulations and community opposition. Learn more.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Summer 2016 issue include: All Low- and Moderate-Income Areas Are Not Created Equal; Moving First-Time Buyers Off the Fence: Solving the Millennial Homebuyer Puzzle with Proven Online Solutions and Partnerships; Innovative Partnership Brings Hope to Small Towns; Entrepreneurship and Economic Development Fueled by Students and Faculty; Impacting Homelessness in Missouri; and more.
This volume from the San Francisco Fed is about a type of American neighborhood that has been largely absent in the long-standing discussion about America’s neighborhoods—those neighborhoods in America’s cities and suburbs that are not in deep distress, but are not thriving either. The authors hope to reinvigorate a discussion about improving middle neighborhoods in America’s cities and suburbs as a complement to the discussion underway nationally and in many local settings about improving distressed neighborhoods or coping with gentrification.
At least a dozen low-income apartment buildings exclusively for seniors in Detroit’s midtown and downtown areas could convert to market rate apartments in the next ten years, forcing hundreds of seniors to find new homes. Many of the senior apartment buildings were filled in the 1980s when few people wanted to live downtown. This article, in Chicago Fed's ProfitWise, Issue 2, 2016, explores community land trusts as a means to address affordable housing shortages and gentrification.
The San Francisco Fed, in partnership with Housing California, surveyed California’s affordable housing developers in October 2015 to learn how they are faring three years after the dissolution of redevelopment agencies (RDAs); how their development pipelines have been affected by the loss of RDA funds; and how new legislation, local regulation, or funding strategies have impacted affordable housing development over the past three years. This report is an analysis of current conditions and challenges expressed in the survey responses of 71 affordable housing development organizations across California.
This San Francisco Fed working paper utilizes data culled from presale reports from the first wave of rental-backed securities to analyze and describe the emerging trend of single-family home rental (SFR) securitization. Authors provide a basic overview of the market, showing the number and market value of single-family homes involved in these new financial products.
Given changing regulatory and market factors in mortgage finance, the time is ripe for innovation, and it behooves policymakers, business leaders, and communities to consider potential alternatives to traditional mortgages. In this 2016 ProfitWise New and Views article, the Chicago Fed’s Community Development and Policy Studies (CDPS) Division explores five innovative products in the residential mortgage marketplace – some already in place, others in progress.
Maintaining a supply of affordable rental housing is an increasingly important goal for cities. The nature of affordable housing loss varies from city to city, and successful mitigation strategies will have to take the unique dynamics of individual markets into account.This paper demonstrates that eight major cities in the Southeast have lost significant numbers of affordable housing units while simultaneously gaining large numbers of luxury-priced rentals. Read about research that highlights how southeastern renters, from Nashville to Miami, are feeling the pinch of an increasingly unaffordable market.
The spring 2016 issue of the Boston Fed's Communities & Banking publication spotlights shocking racial wealth gaps in the Boston metropolitan area. Also, see our map on changes in home mortgage originations in New England.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Winter 2015-2016 issue include: Thrivers and Strugglers: A Growing Economic Divide; Neighborhood “House Economy” Teaches Youth Life Lessons; Grassroots Neighborhood Revitalization in Hyde Park; Collaboration: The Key to Champion Community Investments’ Success; How Housing and Health Care Nonprofits Can Increase Access to Medical Residential Services; Jacobsville Join In!; and more.
Nationally, 52.3 percent of renter households qualify as “rent burdened,” which means they pay 30 percent or more in gross rent as a share of their income. Most states within the Fifth Federal Reserve District, however, are below the national average. This article in the December 2015 issue of 5th District Footprint explores “rent burdened” rates across the Fifth District and what factors might lead to “rent burdened” status.
The Atlanta Fed cohosted a symposium at the 2015 Rail~Volution conference to examine strategies that would promote equitable transit-oriented development without gentrifying a neighborhood and displacing residents. This January/February 2016 Partners Update article provides a peek inside the discussions from the October 2015 sessions.
A website that accompanies the Dallas Fed study, "Las Colonias in the 21st Century: Progress Along the Texas-Mexico Border," which examines successes and challenges in infrastructure, housing, economic opportunity, education and health in Texas colonias. The site features a report, video, photos, success stories, data, legislation information and related resources.
The St. Louis Fed’s annual Community Development Outlook Survey gathers input from a variety of stakeholders regarding the economic conditions of low- and moderate-income (LMI) households and communities in the seven states that make up the Fed’s Eighth District. Data from the survey is used to inform strategic planning, community and economic development, and public policy dialogue around issues and challenges for the District’s LMI areas.
How might communities deal with vacant, abandoned, and "problem" properties? This discussion paper examines successful blight remediation strategies in two southeastern cities--New Orleans, Louisiana, and Macon, Georgia.
Community prosecution is one method to mitigate crime in a community through a proactive and decentralized approach to problem solving. This first article in a series, from in the Nov/Dec edition of Partners Update, looks at how the city of Dallas is using community prosecution to reduce blight in target neighborhoods.
Established in 2007, the Community Banks Partnership is an innovative collaborative that supports NHS’ community reinvestment programs and services through financial support, lending capital, service and counsel. This group meets at least once annually to discuss issues important to the housing and lending industries. This article, from Issue 3, 2015 Profitwise News and Views, summarizes a second quarter convening at the Chicago Fed: NHS of Chicago’s annual Community Banks Partnership meeting. Among other topics, panelists discussed the housing market for ‘millennial’ buyers, and the regulatory landscape for community banks.
The Community Benefit Agreement (CBA) model was created in the late 1990s as a tool to ensure that neighborhood residents would benefit from economic development projects, which are often heavily subsidized by taxpayer dollars. This article, from the Chicago Fed’s Community Development and Policy Studies Division, explores community benefits agreements and ordinances in Detroit, providing some background, as well as on-the-ground experience in the city as it struggles to regain ground economically.
Key housing organizations take coordinated approach to preserving rural Minnesota's affordable rentals
A collaborative effort among government agencies and nonprofit organizations in Minnesota aims to keep the “affordable” in rural affordable housing. From the October 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
Published by the Philadelphia Fed, the Community Development Data Inventory describes timely and publicly available data sources to help inform the work of those involved in community development research or practice. This November 2015 release contains updated information and an expanded number in the inventory, from 16 resources to 24. The resources are described in easy-to-read, two-page summaries organized by topic, including Economy/Employment, Household Financial Stability, Housing/Homelessness, and Data/Mapping Platforms.
Bridges, a quarterly review of regional community and economic development issues, projects, and regulatory changes, is for practitioners from community-based organizations, CRA officers, academics, and government officials working in the Eighth Federal Reserve District. Feature articles in the Summer 2015 issue include: Innovative Credit Union Association Expands Access to Capital; Better Homes, Better Loans: Better Business; Binghampton Development Corporation: Building Assets and Communities; The Hager Educational Foundation: Empowering Citizens To Make Better Communities; and more.
This article from the July 2015 issue of Community Dividend, a publication of the Minneapolis Fed, focuses on the benefits of mobility-based housing programs. When housing voucher recipients relocate to areas of greater opportunity, the positives outcomes can be long-lasting and substantial.
Families who use housing vouchers to move from areas of concentrated poverty to better-resourced neighborhoods experience higher earnings and improved health. Housing mobility programs increase the effectiveness of housing vouchers by providing education and support. This San Francisco Fed working paper proposes using a Pay for Success financing mechanism to increase investment in housing mobility programs based on the hypothesis that healthcare savings stemming from a positive mobility outcome—specifically related to diabetes and obesity— are sufficient to pay the entire cost of the mobility program.
In 2015, the Dallas Fed released “Las Colonias in the 21st Century: Progress Along the Texas–Mexico Border,” a report that examines infrastructure, housing, economic opportunity, education and health in Texas border colonias. This video provides an overview of successes and challenges in the colonias as well as promising strategies to improve living conditions and access to opportunity in these communities.
This edition of Research in Brief summarizes findings from “Information Losses in Home Purchase Appraisals,” a working paper from the Federal Reserve Bank of Philadelphia. Home purchase appraisals are required for any home mortgage guaranteed by a government-sponsored enterprise or the federal government, or a mortgage originated by a federally insured commercial bank or savings and loan institution. A home purchase appraisal is intended to provide an independent estimate of a home’s value, but 90 percent of appraisals have been at or above the agreed-upon offer price. This working paper examines the extent of information loss on home values in the appraisal process because of current property valuation methods.
Beyond the Numbers: A Qualitative Exploration of Affordability and Availability of Rental Housing in the Third Federal Reserve District: 2015
How available and affordable is rental housing in the Third District states of Pennsylvania, New Jersey, and Delaware? This report from the Philadelphia Fed is the qualitative counterpart to a quantitative report released in early 2015. Beyond the Numbers presents themes that emerged from interviews with experts from various housing related organizations, including nonprofit and for-profit developers, housing authorities, community development corporations, and other professionals on key challenges for low-income renters and the rental market.
This July 2015 newsletter from the Kansas City Fed announces an upcoming book on workforce development, examines a cluster-based model to supporting inner-city entrepreneurship in Omaha and provides updates on a borrowing guide for Native American communities. The newsletter also contains an interview with a Kansas City Fed economist on the role of millennials and boomers in the recovery of the multifamily construction market, as well as other news and events.
This Chicago Fed article provides a recap of discussions focused on the causes and potential solutions for the dearth of lending to small rental buildings in Chicagoland’s low- and moderate-income communities at a gathering of more than 75 lenders, regulators and housing stakeholders at the Federal Reserve Bank of Chicago in May of 2014.
This bimonthly newsletter from the Kansas City Fed provides information on community and economic development trends across the Tenth Federal Reserve District.
The St. Louis Fed’s annual Community Development Outlook Survey gathers input from a variety of stakeholders regarding the economic conditions of low- and moderate-income (LMI) households and communities in the seven states that make up the Fed’s Eighth District. Data from the survey is used to inform strategic planning, community and economic development, and public policy dialogue around issues and challenges for the District’s LMI areas.
Affordable housing now ranks among the top concerns facing communities in the Fourth District. Jobs and vacant properties round out the top three. The Spring 2015 edition of Issues & Insights features analysis of results from the Cleveland Fed’s annual community issues survey of stakeholders, along with innovative approaches being tried in communities across the District, which comprises Ohio, western Pennsylvania, eastern Kentucky, and the panhandle of West Virginia.
In determining how to direct their federal Low Income Housing Tax Credit allocations, states set their course for addressing current and future demand for affordable housing. This report, from the Minneapolis Fed's April 2015 issue of Community Dividend, features a number of video supplements, including interview excerpts that provide a banker's and a lender's perspectives on financing affordable housing.
This Dallas Fed report describes and analyzes opportunities, successes and challenges of colonias located in six Texas border counties using both quantitative and qualitative data. The report focuses on infrastructure, housing, economic opportunity, education and health.
A Qualitative Meta-analysis of the Housing Choice Voucher Program” by Erin M. Graves synthesizes housing subsidy voucher studies to explain why, when in theory, vouchers enable users to move out of poor neighborhoods, in practice, they often do not. This qualitative meta-analysis presents an examination of the formative assumptions of the program and their relationship to empirical findings.
The latest New England Community Outlook Survey from the Boston Fed takes a deeper dive into the effect of addiction on the economic strength of communities, particularly in Maine, Vermont, and New Hampshire.
In the aftermath of the foreclosure crisis and subsequent tightening of mortgage credit, many households have turned to the rental housing market, increasing pressure on an already limited supply of low-cost units. Using the most recent data available, this February 2015 issue of Cascade Focus, published by the Philadelphia Fed, analyzes trends in rental housing affordability in the Third Federal Reserve District between 2007 and 2012.
Twice each year, the Richmond Fed surveys experts representing the numerous, highly diverse communities in the Fifth Federal Reserve District to identify the most pressing current and emerging issues. This edition of Community Pulse presents findings from the Fall 2014 survey, reflecting a broad cross-section of community perspectives from across Maryland, North Carolina, South Carolina, Virginia, West Virginia and the District of Columbia.
With 90 percent of the world’s data generated in just the past two years, What Counts: Harnessing Data for America’s Communities challenges policymakers, funders, and practitioners across sectors to seize this new opportunity to revolutionize our approaches to improve lives in low-income communities. This book from the Federal Reserve Bank of San Francisco and the Urban Institute provides a roadmap for the strategic use of data to reduce poverty, improve health, expand access to quality education, increase employment, and build stronger and more resilient communities. Videos from the launch event on December 4, 2014, are available on the San Francisco Fed's Community Development YouTube channel.
Analyzing Home Mortgage Disclosure Act (HMDA) data, researchers at the Boston Fed provide a brief overview of New England's mortgage lending activity in 2012 and evidence of disparities in loan origination outcomes for borrowers of various incomes, races, and ethnicities in this Community Development Issue Brief from November 2014.
The U.S. housing market has been on the mend since the recession ended, but increasing property values are leaving many families of modest means priced out of homeownership. In this Partners Update article, researchers from the Atlanta Fed examine inclusionary housing policies as one possible solution.
Using housing regulation as a community-engagement tool: A conversation with Nuria Rivera-Vandermyde
The Minneapolis Fed's Community Dividend publication speaks with Nuria Rivera-Vandermyde, director of the City of Minneapolis Department of Regulatory Services, to learn how housing regulations and inspections can affect neighborhood stability. From the October 2014 issue.
Despite tight budgets and swelling workloads, inspection departments in Minneapolis and St. Paul are exploring proactive approaches to ensure a safe and sound supply of rental housing. From the October 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
This Research Brief from the San Francisco Fed examines trends in rental housing composition in Arizona, California and Nevada and takes a closer look at local areas that have seen the fastest growth in single-family rentals. These three states were hit particularly hard by the foreclosure crisis and have major markets that have been impacted by investor purchases.
This report released by the Philadelphia Fed reflects research conducted by students completing their master’s degrees in city and regional planning at the University of Pennsylvania, who investigated recent revitalization efforts in Bethlehem, Pa., Lancaster, Pa., and Wilmington, Del., with a focus on equity rather than on stated outcomes. This report summarizes their findings, includes proposals designed to produce equitable outcomes in each city, and provides a blueprint for cities interested in considering equity as an objective in future development efforts.
While appraisers have often been criticized for the inflated home values that were more prevalent during the housing boom, little research has been done to help understand how appraisal valuations respond to rapidly changing local market conditions and regulatory environments. In this discussion paper by the Philadelphia Fed’s Community Development Studies & Education department, researchers examine the pattern of appraisal bias in the Third Federal Reserve District during the housing crisis. Based on a unique transaction-level appraisal data set, this study evaluates how the lack of market activity, the concentration of foreclosures, and the increased use of appraisal management companies, as well as other factors, impact the incidence of low appraisals during the crisis.
This edition of the Philadelphia Fed's Cascade provides highlights from the 2014 Reinventing Older Communities: Bridging Growth & Opportunity conference. The major themes of intergenerational mobility and equitable growth and subthemes of education, employment, and revitalization appear throughout the issue. Articles focus on measuring intergenerational mobility and economic growth in the Third Federal Reserve District; reversing the cycle of poverty through education and mentoring, as well as workforce development; exploring the future of community development corporations (CDC) and measuring CDC impact; and more.
The 12th District County Profiles, published by the San Francisco Fed, provide valuable information on the various labor-market, housing, and economic development issues impacting communities throughout the nine western states. More counties will be added in future rounds of profiles, so check back often to see if your community is featured!
Published by the San Francisco Fed, this paper demonstrates that the greatest reduction in health care costs after placement in supportive housing is seen among chronically homeless adults and seniors who are frequent users of the health care system. The findings support the conclusion that permanent supportive housing can be a highly cost-effective placement option for homeless seniors exiting skilled nursing facilities, particularly as they approach the end of life, and points to the importance of this housing option for managed care organizations that are increasingly taking on the financial responsibility for the health care of this population.
HIF, a tax-incentive program to fund housing for essential workers and low- to moderate-income people, is a hit with contributors and developers alike. From the July 2014 edition of Community Dividend, a publication of the Minneapolis Fed.
Ever wonder about the Federal Reserve’s involvement in the field of community development? Wonder no more. Released in June 2014, Federal Reserve Community Development Perspectives: A summary of activities, insights, and future opportunities answers the "what," "why" and "how" of the Fed's role in community development. The report highlights the Fed’s recent efforts to address barriers to economic growth, and promote fair and informed access to financial markets. Featuring brief summaries of its community development work organized into four focus areas--people, place, the policy and practice of community development, and small business--the report includes background information that helps to provide context for this work, a sampling of key research, outreach programs and other initiatives, as well as some ideas on future challenges, needs and opportunities.
Has gentrification continued after the recession? During the housing boom, a number of large cities in the United States experienced redevelopment in their lower-income neighborhoods as higher-income residents moved in. Looser lending standards may have contributed to this gentrification trend. With tighter lending standards in place following the housing bust and financial crisis, researchers at the Cleveland Fed examined how the income rankings of neighborhoods in the centers of metropolitan areas have changed relative to those in the suburbs since 2000. In this Economic Trends report, they explain their methodology and findings.
This Dallas Fed research uses a spatial hedonic model to analyze 5,500 downpayment assistance loans made from 1997 to 2006 in the City of Dallas Mortgage Assistance Program (MAP). The study estimates the impact of subsidized mortgages on nearby home values and compares the performance of MAP loans to subprime and FHA loans.
The Low Income Housing Tax Credit (LIHTC): Challenges Presented by the Onset of Year 15 in the St. Louis Region
This paper examines the challenges, along with current and expected future trends in affordable housing preservation and development utilizing LIHTCs.
Historically, subsidized housing is concentrated in locations that are largely isolated from amenity-rich areas. While a variety of federal and local programs offer expanded neighborhood choice to lower-income households reliant on housing assistance, the bulk of subsidized affordable housing remains unevenly distributed across different types of neighborhoods. This research brief from the San Francisco Fed looks at how these patterns play out in the nine-county Bay Area of Northern California, focusing on the relative locations of subsidized housing and high quality schools.
Launched in 2011 by the San Francisco Fed, this project collects input from community stakeholders about the issues and trends facing low- and moderate-income communities in the 12th District. Reports synthesize key themes that emerge from the surveys.
Using data from U.S. Census Bureau, this research brief from the San Francisco Fed analyzes the changing geography of poverty in the Bay Area. It focuses on the nine-county San Francisco Bay Area and explores the demographic changes that took place between 2000 and 2009.
Following the aftermath of the Great Recession, national indicators are starting to show signs of improvement in the housing market, but these indicators mask the realities of what’s happening on the ground in low- and moderate-income (LMI) communities. Complicating matters is the unprecedented role of investors in the housing recovery. This Research Brief from the San Francisco Fed provides an overview of related issues and examines housing market recovery and investor activity in the Federal Reserve’s 12th District.
This Dallas Fed article highlights an innovative housing program addressing the needs of homeless veterans in the northern Louisiana portion of the the 11th District. Volunteers of America of North Louisiana provides transitional housing and supportive services including comprehensive health care, vocational rehabilitation and financial education.
California’s San Joaquin Valley is one of the nation’s most impoverished areas. Recent developments such as the foreclosure crisis have heightened the Valley’s needs, and there is also evidence that the Valley is beginning to garner more attention from financial institutions and federal regulators, creating an opportunity for community-based organizations (CBOs) and financial institutions to work together in a mutually beneficial way. This paper from the San Francisco Fed describes how stakeholders have successfully collaborated to increase reinvestment in other locales, with lessons learned for the San Joaquin Valley.
This issue of the San Francisco Fed’s Community Investments, explores a selection of Native initiatives across the country. It discusses how Native communities are partnering with federal agencies to build and support sustainable housing in Indian Country and establish modern water and sewer systems for remote Native communities in Alaska. The articles also examine a community-based health worker initiative in the Navajo Nation and a Native Hawaiian financial education program and community-based lending institution.
This working paper from the San Francisco Fed provides an overview of patterns of subprime lending, as well as trends in foreclosures and REOs, in suburban communities compared to inner-cities. It explores the relationship between foreclosures in suburban areas and the increased suburbanization of poverty.
This issue of the San Francisco Fed’s Community Investments explores the emerging approach of collaborative community development and lifts up early learnings from pioneers in the field. The articles discuss how to establish and grow collective action leadership organizations and working groups and build a strong but flexible initiative framework; consider how government can be an effective partner in collective action work; and convey the critical role of data and measurement in these initiatives.
In this issue of CDIR, the San Francisco Fed highlights a number of deliberate, innovative and interdisciplinary efforts addressing community development and environmental issues. These efforts are diverse, both in the issues they touch and the range of approaches and partnerships they employ. Issues addressed include air quality, climate change and water access on the environmental side, and education, health, and affordable housing on the community development side.
Community Development Investment Review: Innovations in Neighborhood Stabilization: Responses to the Foreclosure Crisis
In this issue of the CDIR, the San Francisco Fed brings together a series of articles highlighting some of the stabilization strategies emerging from the efforts of committed nonprofits across the country. Included are lessons learned from the Housing Partnership Network’s 2011-2013 Innovations in Neighborhood Stabilization and Foreclosure Prevention Initiative along with a series of essays written by influential nonprofit and public sector leaders that enriches the conversation about neighborhood stabilization, providing new and provocative perspectives on this work.
This issue of the San Francisco Fed's CDIR is dedicated to a simple idea: innovative ideas to solve poverty should not stop at the national border. There are too many good ideas abroad that can help inform our practices domestically, and good ideas here that can be relevant to other countries.
This issue of Community Pulse presents the results of the Federal Reserve Bank of Richmond's spring 2014 survey of most pressing current and emerging issues of its numerous and highly diverse communities. Access to affordable housing, availability of jobs locally and improving the quality of K-12 education were the top three current issues in the Fifth District.
This report from the Boton Fed describes credit conditions in Massachusetts in low- and moderate-income and middle- and high-income census tracts using a unique and nationally representative database of all individuals who have a credit history. The analysis highlights the differences in the percentage of individuals with credit accounts, median balances, monthly payments, delinquency rates, and credit scores in 2006 and 2012.
In disadvantaged neighborhoods, the condition of the housing stock can vary from block to block. On one block, homes appear well kept and in good condition, while on another, many homes show signs of physical distress. Since the blocks within the same neighborhood are often similar in terms of home values, what accounts for this pattern? And is there any contagion effect of home maintenance? Researchers at the Boston Fed examine this issue in several Boston neighborhoods in this report.
The November 2013 issue of 5th District Foodprint looks at population growth in the Fifth District between 2007 and 2012 and describes the role of migration in these patterns.
The October 2013 issue of 5th District Footprint examines commuting patterns in Fifth Federal Reserve District counties. Daily population shifts due to commuting are especially prominent in counties surrounding major metropolitan areas.
Redefining Rust Belt: An Exchange of Strategies by the Cities of Baltimore, Cleveland, Detroit and Philadelphia
This publication summarizes the key themes from the first event in the Redefining "Rust Belt" series. The event engaged community leaders from the cities of Baltimore, Detroit, Cleveland and Philadelphia in a discussion of challenges and successful strategies in city revitalization efforts. The event was held by the Federal Reserve Bank of Richmond, in collaboration with the Federal Reserve Bank of Chicago, Cleveland and Philadelphia.
How did the Neighborhood Stabilization Program play out in Boston? A research team at the Federal Reserve Bank of Boston conducted a multi-method study of the impact of the Boston Neighborhood Stabilization Program effort. We found that the program properties were slower to be rehabilitated than a comparison group of non-program properties and that the program had very little impact on the physical or social conditions of the block. We conclude by offering some policy implications
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials. Feature articles in the Winter 2013-14 issue include: Family Scholar House: Educational Program Breaks Cycle of Poverty for Single Parents in Louisville; Health Around the Corner; Insight Park: Visioning for the Future of Oxford and Ole Miss; Anchor Institutions in the Mississippi Delta; Charter School Anchors St. Louis Neighborhood Revitalization; and more.
This article provides a recap of the Neighborhood Housing Services of Chicago (NHS) Annual Community Banks Partnership Meeting. The meeting brought together more than 60 representatives from area community banks, regulators, and industry partners to discuss the evolving landscape of community banking. This meeting was held April 30, 2013, at the Federal Reserve Bank of Chicago.
Learn how the surging energy industry in the Bakken oil patch may be making life harder for some area residents, particularly the elderly. From the October 2012 issue of Community Dividend, a publication of the Minneapolis Fed.
Despite limited resources, UNITY of Greater New Orleans, a coalition of 60-plus local agencies, permanently housed over 500 chronically homeless people last year. Learn how the coalition achieved that success in a case study highlighting best practices in the Southeast.
Nonprofits are using this alternative home-financing option to help prospective buyers who cannot yet qualify for a traditional mortgage. From the April 2013 issue of Community Dividend, a publication of the Minneapolis Fed.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials. Feature articles in the Fall 2013 issue include: Increasing Density: A Small-Town Approach to New Urbanism; Women Helping Women: Healing Hearts Bank at Redevelopment Opportunities for Women; The Graying of America: Preparing for What Comes Next and more.
This issue of the Dallas Fed's Banking & Community Perspectives looks at challenges facing the affordable housing field in Texas, spotlighting underlying trends and new approaches to increasing availability.
This Infographic from the Richmond Fed presents key facts about homelessness in the U.S. and within the Fifth Federal Reserve District.
The Federal Reserve Bank of Philadelphia’s Community Outlook Survey monitors the economic factors affecting low- and moderate-income (LMI) households in the Third Federal Reserve District. A report summarizing the most recent survey as well as an archive of prior surveys are available on our website.
This article in the Winter 2013 issue of Kansas City’s Ten magazine traces the history of land banking and the innovations to improve the appeal, outcome and efficiency of land banking as a revitalization tool.
This issue of the San Franscisco Fed's Community Investments examines the challenges facing the affordable housing industry, new public-private funding partnership models, cross-sector efforts with health care and transportation practitioners, and services-enriched affordable housing that is helping the most vulnerable members of our communities to lead fuller lives in a more stable environment.
A compilation of essays published by the San Francisco Fed and the Low Income Investment Fund highlights entrepreneurial solutions for addressing poverty. Authors include leading experts from across the U.S. in community and economic development, academia, government policy, health, and philanthropy.
This issue of Community Pulse presents the results of the Federal Reserve Bank of Richmond's fall 2013 survey of most pressing current and emerging issues of its numerous and highly diverse communities. Availability of jobs locally, affordable housing and budgetary issues at the state or local government level were the top three current issues in the Fifth District.