Property values unaffected by nearby affordable housing

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In the 13 years since 140 units of affordable housing were built in Mount Laurel, N.J., some residents’ fears that the housing would lower their property values, raise their crime rates and increase their taxes have not come to pass, according to a Princeton study.

The study concludes that the affordable housing has “had zero impact” on the suburb’s affluent residents, while the lives of the poor and working-class families who moved there have been “transformed,” with higher employment rates, higher wages, lower welfare participation, and kids that read more and have better grades, the New York Times reported.

Source: New York Times