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Research Shows Immigration Boosts Housing Market

June 20, 2013

From a report by the Americas Society/Council of the Americas and the Partnership for a New American Economy:

Immigrant workers strengthen the housing market in three ways:

• They directly drive housing demand through their own purchasing power. The 40 million immigrants in the United States represent a powerful purchasing class—reflected by their demand for housing, as well as for other locally produced goods and services—that bolster the value of homes in communities across the country.

• They indirectly generate demand by drawing U.S.-born individuals to opportunities in growing areas. The research shows that for every 1,000 immigrants settling in a county, 250 U.S.-born individuals follow, drawn by increased economic opportunity.

• They shift demand for housing within metro areas toward neighborhoods that had fallen out of favor. The research finds that immigrants often contribute to the stabilization of less desirable neighborhoods, helping those areas become viable alternatives for middle- and working-class Americans. This opens up new opportunities for those without homes to consider purchases in areas once in decline—an important trend in expensive metro areas.

The full report includes an interactive map showing the relationship between immigration and housing prices on a county-by-county basis.

TAGS: Economic Benefits of Immigration, Immigration Research