Affordable Housing in Transit-Oriented Developments: Impacts on Driving and Policy Approaches
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2017-04-01
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Abstract:This paper studies the intersection of policies promoting affordable housing, transit-oriented developments (TODs), and the reduction of vehicle miles traveled (VMT) in metropolitan areas. In particular, this paper focuses on the following questions: 1. Does locating affordable units in TODs increase or decrease VMT and thus emissions?; 2. Is affordable housing in TODs still affordable in the long-term, i.e., beyond the expiration of the first minimum affordability period?; 3. Do the benefits of affordable housing near transit outweigh the frequently higher costs of development in TODs?; and, 4. What policy recommendations emerge from the analysis?
Existing research has shown that those who live within a TOD’s radius (considered a half-mile in this paper) tend to have a lower VMT than if they lived elsewhere. Empirical data from the Los Angeles greater metropolitan area, analyzed within this paper, confirm this research finding. Nevertheless, and based on the same empirical data, the increase in transit ridership and the decrease in VMT for households living within a TOD’s radius is not a straightforward relationship. For example, households with higher incomes tend to reduce their VMT by a greater amount than those with lower incomes; and households with lower incomes tend to increase their transit ridership by a greater amount than those with higher incomes.
The extent to which affordable housing in TODs may contribute to VMT reduction and social welfare goals depends on the amount of affordable housing that municipalities can offer. Whether affordable housing in TODs can remain affordable after any initial covenants expire also matters. Unfortunately, existing research shows that: (a) properties located near light rail appear to be more valuable, holding all else equal; and (b) landlords in areas where prices are increasing tend to “opt out” of renewing affordability covenants, when possible. As a result, the construction of affordable housing in TODs—areas that are likely to experience rising property values—may not convey long-term affordability benefits without proper regulations in place.
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