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Homeownership is the single largest financial investment most people will make during their lifetime (United States Department of Housing and Urban Development 1995). Furthermore, housing choice can have implications for quality of life, so housing consumers make purchasing decisions based on many factors, including affordability, location, specific housing or property attributes, and/or the characteristics of the surrounding neighborhood (Tiebout 1956, Fischel 2000). Because external neighborhood qualities are part of the decision to buy a house, it can also influence the monetary value of housing. Thus, neighborhood activities are important to many homeowners. Accordingly, NIMBY ("not in my backyard") activism is frequent amongst homeowners. NIMBY citizens will participate in local government to protest development in their neighborhoods when they consider the development undesirable. One potential type of neighborhood development often perceived as undesirable by single-family homeowners in the United States (US) is multifamily housing. US single-family homeowners will regularly protest proposed multifamily construction when it is close to their house because they fear property devaluation (Pendall 1999). However, no substantial empirical evidence shows higher density developments causes any real reduction to surrounding single-family property values. In fact, the opposite may be true.In 1997, the United States National Association of Home Builders (NAHB), using US Census and American Housing Survey data, found that the average value of a single-family house in the US within 91.44 meters (300 feet) of multifamily residences increased in value at a slightly higher rate than single-family houses without multifamily residences nearby, at 2.9% versus 2.7% per year (Haughey 2005, United States National Association of Home Builders 2004). Granted, a concerned single-family homeowner might be a bit skeptical of this statistic, not just because of the source, but because the statistic is based on a national dataset. To illustrate, many multifamily dwellings (e.g., condominiums) are often found on or near an amenity, such as a beach, ski resort, or a thriving urban node. Logically, single-family properties proximate to these same amenities will also be proximate to the multifamily residences; capitalizing on the same amenity will bring up the national average substantially. This logic follows the basic principle of Alonso's classic Bid Rent Theory, based on the von Thunen model of land use, stating that as distance increases from a central node, so do transportation costs/time, and therefore rents will decrease (Alonso 1960). Thus, a local amenity may act as a central point for housing price premiums, trumping, at the aggregate level, any nuisance imposed by multifamily dwellings.Either way, the fact remains that community residents across the nation regularly protest new multifamily housing developments proposed for their neighborhoods (Babcock 1966, Scott 1969, Plotkin 1987, Pendall 1999). An investigation of 182 proposed housing developments in the San Francisco Bay Area during the late 1980s showed that multifamily projects were most likely to encounter NIMBY resistance. In the San Francisco Bay Area study, Pendall found 61% of all projects prompted some form of public opposition, but multifamily projects were 42% more likely to generate public controversy than other proposed developments (Pendall 1999).Even though studies examining the effects of subsidized housing on surrounding property values generally show no monetary effect on surrounding property values (Haughey 2005, Nguyen 2005, Pollakowski 2005), one likely issue with multifamily housing in the US is that it can be associated with more "affordable" housing, attracting lower income and ethnic minority residents. Despite continuous and significant improvements in racial attitudes amongst US Whites, race still partly explains today's housing segregation (Charles 2005, Ihlanfeldt and Scafidi 2004). …

journal of urban and regional analysis

SMART GROWTH AND THE CHALLENGE OF NIMBY: MULTIFAMILY DWELLINGS AND THEIR ASSOCIATION WITH SINGLE-FAMILY HOUSE SELLING PRICES IN TALLAHASSEE, FLORIDA, USA