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JEL Classification:R31 

Journal Article
How Long Does It Take to Build Multifamily Housing?

Increasing the supply of multifamily housing is a key strategy to reduce the cost of shelter in our larger cities. However, the time required to produce these units has grown over time. We document the duration from when an apartment or condominium development or redevelopment (i.e., conversion from another use) is first announced until its completion. We break down this duration into (a) the planning and permitting phase and (b) the construction phase. We find that, on average, projects spend three to four months more in the planning stage than in construction. This project duration is ...
Policy Hub , Volume 2024 , Issue 4

Discussion Paper
Developing Inclusive Communities: Challenges and Opportunities for Mixed-Income Housing

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. {{p}} To meet the affordable housing needs in U.S. communities, innovation, creativity, and "out of the box" thinking may be required, particularly as it relates to reducing the rapidly increasing costs of ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2017-1

Discussion Paper
Informal Homeownership Issues: Tracking Contract for Deed Sales in the Southeast

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. {{p}} 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. Unlike the recipient of a mortgage, the ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2017-2

Discussion Paper
Rental Housing Affordability in the Southeast: Data from the Sixth District

Housing data are available for most large metropolitan regions in the Atlanta Fed's Southeast region. However, many midsized metropolitan, micropolitan, and nonmetro areas lack detailed data on rental housing affordability and housing supply needs by income level. These data are important for state and local governments, affordable housing developers, and housing advocates to inform housing policy. Therefore, the Atlanta Fed partnered with the Shimberg Center at the University of Florida to analyze census data using a methodology developed for Shimberg's periodic Rental Market Study for the ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2018-2

Discussion Paper
Declines in Low-Cost Rented Housing Units in Eight Large Southeastern Cities

From the last quarter of 2012 to the last quarter of 2015, median rents rose 23.4 percent in the South, according to the Census Bureau. Accordingly, an increasing number of households in the South are cost-burdened, which is defined as a household spending more than 30 percent of its income on housing. A growing number of households spend over 50 percent of their income on rent, making them severely cost-burdened. The percentage of such severely cost-burdened households with incomes below $35,000 reached 80 percent in 2014 in eight central cities in the Southeast (Atlanta, Birmingham, ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2016-3

Discussion Paper
Negative equity in the Sixth Federal Reserve District

Using Zillow's zip code level Negative Equity Report for the second quarter of 2014 and 2015, I map, describe, and analyze the characteristics of neighborhoods that have persistent negative equity in the Sixth Federal Reserve District, comprised of Alabama, Florida, and Georgia, and parts of Louisiana, Mississippi, and Tennessee. Persistent negative equity, when a house is worth less than outstanding mortgage debt, is high in the Sixth District and concentrated in urban areas. In a series of regressions, I evaluate the correlation of income, commute times, unemployment, housing stock quality, ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2016-1

Discussion Paper
Negative Equity in the Sixth Federal Reserve District

Using Zillow’s zip code level Negative Equity Report for the second quarter of 2014 and 2015, I map, describe, and analyze the characteristics of neighborhoods that have persistent negative equity in the Sixth Federal Reserve District, comprised of Alabama, Florida, and Georgia, and parts of Louisiana, Mississippi, and Tennessee. Persistent negative equity, when a house is worth less than outstanding mortgage debt, is high in the Sixth District and concentrated in urban areas. In a series of regressions, I evaluate the correlation of income, commute times, unemployment, housing stock ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2016-01

Discussion Paper
Developing Inclusive Communities: Challenges and Opportunities for Mixed-Income Housing

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.To meet the affordable housing needs in U.S. communities, innovation, creativity, and "out of the box" thinking may be required, particularly as it relates to reducing the rapidly increasing costs of development. ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2017-01

Discussion Paper
Informal Homeownership Issues: Tracking Contract for Deed Sales in the Southeast

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. Unlike the recipient of a mortgage, the ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2017-02

Discussion Paper
Rental Housing Affordability in the Southeast: Data from the Sixth District

Housing data are available for most large metropolitan regions in the Atlanta Fed's Southeast region. However, many midsized metropolitan, micropolitan, and nonmetro areas lack detailed data on rental housing affordability and housing supply needs by income level. These data are important for state and local governments, affordable housing developers, and housing advocates to inform housing policy. Therefore, the Atlanta Fed partnered with the Shimberg Center at the University of Florida to analyze census data using a methodology developed for Shimberg's periodic Rental Market Study for the ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2018-02

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