The specter of declining property values is a frequent objection lobbed by locals when an affordable housing community is proposed nearby. But a new Redfin study may allay those fears. 

Redfin's analysis of more than 220,000 home sales nationwide found no consistent relationship between the addition of low-income housing and nearby home prices in most metro areas. The study, which spans 2007 to 2019, showed no significant pricing difference between homes in 18 of 26 metro markets surveyed after the construction of low-income housing developments nearby.

Eight markets surveyed showed significant difference, whether negative or positive. In Boston, Philadelphia, Washington, D.C. and Charlotte, homes near low-income housing developments sold for more after the development was constructed. Of particular interest: typically, the more expensive the homes were a neighborhood studied, the more likely it was that the low-income housing nearby would result in increased home prices in the neighborhood.