We study the local effects of new market-rate housing in low-income areas using microdata on large apartment buildings, rents, and migration. New buildings decrease nearby rents by 5 to 7 percent relative to locations slightly farther away or developed later, and they increase in-migration from...

Since 1970, the share of Black individuals living in suburbs of larger cities has risen from 16 to 36 percent. We present three facts illustrating how this suburbanization has changed spatial inequality. First, suburbanization entirely accounts for Black households' relative improvements in...

We study the local effects of new market-rate housing in low-income areas using microdata on large apartment buildings, rents, and migration. New buildings decrease nearby rents by 5 to 7 percent relative to locations slightly farther away or developed later, and they increase in-migration from...