VTPI: How to Make Walkable Neighborhoods More Affordable
Mark on 10 15, 2009
An interesting analysis posted on the NRDC Switchboard blog has relevance to those concerned about affordable housing issues in New Haven. As walkable neighborhoods become more desirable (which may be partly driven by increases in transportation costs), the supply of housing in “walkable” neighborhoods may not be high enough to meet demand. This can cause an decrease in housing affordability. This analysis discusses how that might be corrected so that everyone can afford to live in a “walkable” neighborhood:
Litman walks the reader through the evidence, from market surveys to trend data to quite a bit of academic research, all suggesting that, while demand for large-lot suburban homes will remain (an important point), it is not where the growth in demand will occur.
In this dynamic, it is no wonder that one of the frequent criticisms raised in connection with close-in, convenient, walkable neighborhoods is that they can be so expensive. Litman cites the 2001-2002 SMARTRAQ study for the proposition that, while at that time 20-40 percent of the Atlanta housing market “strongly preferred” walkable neighborhoods, only five percent of the area’s housing stock was located in such areas.
These data have important implications for the Greater New Haven Region – which luckily already benefits from a disproportional amount of mass transit that, over time, could help enable the creation of more walkable neighborhoods.
