Data/Research - Community Development Resources
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.
Back in 2017, the Center for Indian Country Development (CICD) at the Federal Reserve Bank of Minneapolis released an online Reservation Profiles tool that provides demographic information about federally recognized American Indian tribes with populations of at least 2,500. In this CICD Blog post, read how the recent addition of Home Mortgage Disclosure Act data to the tool can enhance users' understanding of mortgage lending in Indian Country.
A Cleveland Fed researcher used Home Mortgage Disclosure Act (HMDA) to examine trends in mortgage lending in Hamilton County, Ohio--home to Cincinnati--during a 27-year period beginning in 1990.
A Cleveland Fed Policy Analyst used Home Mortgage Disclosure Act (HMDA) to examine trends in mortgage lending in Franklin County, Ohio--home to Columbus--during a 27-year period beginning in 1990.
Cleveland, Cincinnati, and Pittsburgh—once major centers of manufacturing. See how these metropolitan areas have fared during roughly the last half-century as manufacturing and other key sectors of their economies have evolved.
The fourth in a series of reports that analyze Home Mortgage Disclosure Act data, Cleveland Fed researchers look at pre- and post-Great Recession mortgage lending in the county that is home to Lexington, Kentucky. Read their findings.
Since the Great Recession, homeownership rates have dropped and the wealth divide has widened for low-income and racial and ethnic minority households. Homeownership is a significant contributor to household balance sheets and generator of household wealth, particularly for these populations. A contract for deed is a seller-financed real estate contract consisting of installment payments. For households that desire the financial and physical security of owning a home, contracts for deed may provide an inexpensive option. However, risks may exist. This discussion paper explores informal homeownership issues by tracking contract for deed sales in the Southeast.
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.
This article from the Cleveland Fed examines trends in Cuyahoga and Allegheny counties and reveals differences for not only the counties, but also for borrowers of different races and incomes.
An analysis of Home Mortgage Disclosure Act (HMDA) data by two Cleveland Fed researchers finds differences in mortgage lending outcomes by race and income in Allegheny County (home of Pittsbugh, PA).
Two Cleveland Fed researchers use Home Mortgage Disclosure Act (HMDA) data to examine trends in mortgage lending and find differing outcomes by race and income in Cuyahoga County (home of Cleveland, OH).
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.
Place-based funders can play an important role for connecting economic growth to economic opportunity. Looking for Progress in America's Smaller Legacy Cities: A Report for Place-Based Funders describes a study tour undertaken by representatives from four Federal Reserve Banks and more than two dozen place-based funders, under the auspices of the Funders' Network-Federal Reserve Philanthropy Initiative.
This issue of the Community Pulse presents findings from our 2016 survey. Access to affordable housing, availability of local job options, and improving the quality of K-12 education ranked among the top three issues in the Fifth District.
How often does the character of a neighborhood change, and what are the most common types of neighborhood change? A Cleveland Fed researcher has attempted to shed light on those two questions by looking at four cities (Cincinnati, Cleveland, Columbus, and Pittsburgh) over a 40-year period (1970-2010).
The nation continues to add jobs as the economic recovery continues, but employment growth is slowing, and even reversing, in some states, including those in the Fourth Federal Reserve District. How will this impact the District’s unemployment rate? In this January 2017 feature, a Cleveland Fed researcher examines five employment growth scenarios to find out.
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 Rental Housing Affordability data tool enables users to examine trends in rental housing affordability in Third District states from 2005 to 2014. Additionally, the tool includes demographic and economic profiles of cost-burdened, lower-income renters to enable users to better identify vulnerable groups and inform the development of programs and services.
A Cleveland Fed analyst examines the demographic challenges eastern Kentucky faces as it tries to attract and retain a more diverse mix of jobs.
One way a household might handle financial distress is to relocate to another area that offers greater income opportunities. A trio of Cleveland Fed researchers examines the impact of geographic mobility on consumer finances by focusing on the residents of “boom towns”—areas that saw a surge of growth in oil-drilling activity around 2010 and a bust thereafter. They find that residents who move after the bust experience stronger consumer financial health than residents who stay put.
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.
Access to broadband has become an essential component of economic opportunity and financial well-being, yet there is a significant digital divide in many underserved communities.This Dallas Fed publication is a practical guide for financial institutions that shows how digital inclusion can improve the lives of low- and moderate-income individuals who have limited access to broadband infrastructure. It presents best practices and information on lending, services and investments that can help close the digital divide and contribute to an inclusive and vibrant entrepreneurial economy.
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.
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.
Although seven years have passed since the end of the Great Recession, recovery in the housing sector has been inconsistent across the country. This discussion paper explores how these dynamics are playing out in the Southeastern United States and the neighborhood characteristics that accompany persistent concentrations of negative equity in the region.
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.
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.
This summary of the report Gentrification and Residential Mobility in Philadelphia provides applied findings appropriate for a community development practitioner audience on gentrification and neighborhood change in Philadelphia.
New research from the Philadelphia Fed, Gentrification and Residential Mobility in Philadelphia, explores the topic of gentrification and the effects of neighborhood change on vulnerable residents. This discussion paper provides an in-depth analysis on which neighborhoods in Philadelphia are gentrifying, who is moving into and out of gentrifying neighborhoods, and the experiences of vulnerable residents in those neighborhoods.
Scholarly interest in the relationship between investment and displacement dates back to the 1970s, in the aftermath of displacement related to urban renewal. More recently, a new wave of scholarship examines gentrification, primarily in strong market cities, and its relationship to public investment, particularly in transit. The results of these studies are mixed, due in part to methodological shortcomings. A primary finding looking across the literature is that there is a need for a new methodology to analyze displacement risk.
Through its Center for Indian Country Development, the Minneapolis Fed works to help self-governing communities of American Indians in the United States attain their economic development goals. The Center promotes partnerships, research, and coordination around four focus areas that are essential for building vibrant economies: governance, infrastructure, finance, and resources.
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.
Housing market conditions continued to improve during the first quarter of 2015 across the seven states that comprise the Fed’s Eighth Federal Reserve District, according to the St. Louis Fed’s Housing Market Conditions report. The quarterly report provides a snapshot of conditions in the U.S. and in the Eighth District states and MSAs. This webpage features the latest report, and an archive of past reports.
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.
Why might health, employment, and income continue to exhibit major disparities across racial groups in the United States? This Economic Commentary from researchers at the Cleveland Fed examines the cities that participated in the Moving to Opportunity social experiment to understand how different characteristics might be used to distinguish neighborhood environments, and how these characteristics relate to neighborhood poverty.
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.
What can online word searches reveal? Turns out that data on the volume of internet searches for particular words and phrases can provide insights into housing demand, according to researchers at the Cleveland Fed. In a February 2015 Economic Trends they report that, over a 10-year period, the search volume for “real estate agent” moves closely with the Case-Shiller Home Price Index. While both have been trending upward, the researchers say growth in demand indicated by online search volumes has been lagging behind the index, which may imply that home prices are currently overvalued. Also, searches for the terms “first home” and “mortgage calculator” are currently much lower than they were before the financial crisis, suggesting a possible decline in first-time home buyers.
In the nine years since Hurricane Katrina devastated the Gulf Coast, many affected communities have revamped their municipal plans. This discussion paper by Atlanta Fed research analyst Ann Carpenter examines these plans and compares their content with what is known about resilience from the perspective of fostering connected communities with a strong sense of place.
In this Community Development Issue Brief, a researcher at the Boston Fed examines the factors that influence firm location choice in US cities--including availability of local labor, building lease costs, on-site parking for employees, and others--along with which of these might best explain the variance in employment trends across a set of small and mid-sized post-industrial Massachusetts cities. The results provide some indication of the extent to which these cities, and others like them, might influence their own economic futures.
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.
Community Credit Profiles, created by the NY Fed, provide local information on credit access and use, to help inform community development policymakers and practitioners. Indicators are updated twice a year at the national, state and county levels to enable peer comparisons and program and activity benchmarks.
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.
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!
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 Chicago Fed provides findings from its recent Industrial Cities Initiative (ICI), an effort to gain a better understanding of the economic, demographic, and social trends shaping industrial cities in the Midwest. The report profiles ten Midwestern cities and explores the trends and experiences of each city individually, in comparison to peers and in comparison to their home states and the nation.
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.
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 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.
The Federal Reserve Bank of New York is deeply committed to the people of Puerto Rico and to its growth and prosperity. That commitment is reflected in the ongoing work of the Fed's Outreach and Education teams with partners on the Island and in the research by Fed economists, who monitor and analyze local economic conditions. This analysis—along with similar analysis from other regions across the nation—feeds into the decisions the Federal Reserve makes on monetary policy and regulation of the financial system.
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.
Why has average income grown in some poor neighborhoods over the past 30 years and not in others? In exploring this question, researchers at the Cleveland Fed found that low-income neighborhoods that experienced large improvements in income over the past three decades tended to be located in large, densely populated metro areas that themselves grew in income and population. Residential sorting—changes in population and demographics within neighborhoods—could help to explain this relationship.
Many signs in the housing market seem to be pointing the right way, except for the amount of time loans are spending in the foreclosure process. Foreclosure fast-tracks for vacant homes in foreclosure may help reverse that trend. This Commentary by researchers at the Cleveland Fed examines the savings Ohio and Pennsylvania might gain if they adopted such measures.
Many Rust-Belt cities have seen almost half their populations move from inside the city borders to the surrounding suburbs and elsewhere since the 1970s. As populations shifted, neighborhoods changed—in their average incomes, in their educational profiles, and in housing prices. But these shifts did not affect neighborhoods at the same rates. Recent research has uncovered some of the patterns characterizing the process.
The Federal Reserve Bank of Richmond's Foreclosure Resource Center provides a comprehensive list of both national and local foreclosure prevention information, resources and data.
Although not directly affected by the boom and bust of the housing market, Appalachia, and more specifically rural Appalachia, might be fighting the Great Recession's aftershocks for quite some time. This report from the Cleveland Fed examines data to learn how Appalachians in counties from Kentucky, Ohio, West Virginia, and Pennsylvania are currently faring. Have they lost what little ground they gained from the late 1970s to the early part of this decade?
This blog documents some of the positive housing market effects seen in major counties within the Seventh Federal Reserve District.
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
The Foreclosure Rate Graphs show trends in foreclosure start and transition rates in the largest counties in each state in the Seventh Federal Reserve District. These five counties include the cities of Chicago (Cook County), Detroit (Wayne County), Indianapolis (Marion County), Milwaukee (Milwaukee County), and Des Moines (Polk County).
The Chicago Fed’s Community Development and Policy Studies Department (CDPS) has developed a series of maps to identify areas in the Seventh Federal Reserve District facing the highest rates of foreclosure and mortgage delinquency. The maps show county-level data as of October 2013 for each of the five states in the District (Illinois, Indiana, Iowa, Michigan and Wisconsin) as well as zipcode-level data for the largest county in each state.
Are loss-mitigation tools easing distress in Ohio? This analysis looks at trends in delinquency rates, underwater loans, and negative equity to see whether several national loss-mitigation programs appear to have any impact on loan performance in Ohio.
How have northern cities fared as they recover from the loss of manufacturing, at the same time working to reduce pollution and become more attractive places to live? This report examines trends in manufacturing and pollution in the traditional industrial centers of the Rust Belt and the newer centers that sprang up in the South over the past three decades.
Are Native contractors missing out on business opportunities because they can't obtain a specific form of insurance? This Community Development Paper from the Minneapolis Fed explores whether construction companies in Indian Country have access to surety bonds, insurance instruments that guarantee fulfillment of construction contracts.
Mortgage delinquencies continued to decline across all seven states that comprise the Fed's Eighth District during the fourth quarter of 2013, according to the St. Louis Fed’s latest Housing Market Conditions report. The quarterly report provides a snapshot of housing market conditions in the U.S. and the Eighth District, which covers the states of Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee. The report also now includes data for the District’s four main Metropolitan Statistical Areas (MSAs): Little Rock, Louisville, Memphis and St. Louis. View the most recent report, as well as archives of previous reports, at www.stlouisfed.org/community_development/HMC/.
An interactive tool, this Regional Mortgage Conditions map presents analysis of housing market conditions in the tri-state (NY, NJ, and CT) region from January 2007 to the present. Zip code level data are available for New York City, Long Island, and parts of northern New Jersey. Users can view the graphical analysis on a county-by-county basis and watch an animated timeline of how mortgage conditions changed during that period. The interactive map provides information about the percentage of loans in foreclosure, as well as those that are 60 days and 90 days or more delinquent.
This interactive visual tool allows users to explore where and to what extent home prices have recovered, as well as their effect on home equity and housing affordability in the states of New York, New Jersey, and Connecticut.
The Minneapolis Fed provides a "zoomed-in," block-by-block picture of the housing market in the Minneapolis neighborhoods that were hit hardest by the recent foreclosure crisis.
This resource produced by the Philadelphia Fed includes affordable housing and consumer credit statistics and trends for low- and moderate-income communities in the Third Federal Reserve District and in the U.S. overall. Information is available for rental housing, mortgage lending, and consumer credit, and Community Profiles are available for metropolitan areas in the District.
The 2013 Federal Reserve System Community Development Research Conference presented a unique forum for discussing key research, program, and policy strategies aimed at improving resiliency and rebuilding in low-income households and neighborhoods. The post-event materials include papers, presentations and videos; keynote remarks, speaker biographies and poster presentations,