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Will Low Income Housing Hurt Your Property Value?

Will Low Income Housing Hurt Your Property Value?

One Texas town is proving the stereotypes connected to low income housing wrong.

Frisco is known for its country clubs and gated communities, but it also has low income housing. And the perceived problems like declining property value and crime haven't been a big factor. So could it happen here in Houston?

 

“The zoning and lack thereof in the Houston area certainly lends itself to that possibility,” Christine Johnson with Better Homes and Gardens told KTRH. “The housing market has changed so much in Houston over the last year. A lot of things have happened that were not predicted to happen.”

 

And Johnson says even though you might think your property value would go down, you’d be surprised at what reality says.

 

“If the developments are maintained, you’re not going to necessarily have a decrease in property value,” Johnson said.

 

But Kenya Burrell at John Daugherty realtors says you do have to take the good with the bad when it comes to low income housing.

 

“Crime is definitely something to consider? But is it a magnet to low income housing? I’m not sure there’s enough data to support that,” Burrell said.

 

But she says based on the real estate demand in Houston she doubts we'll see low income housing in high income areas anytime soon.

 

“Based on history and trends it’s hard to see that. It’s also hard to see that because of the demand for housing and the growth that we are seeing in the city,” Burrell explained.

 

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