Neighborhood effects of buy‐to‐rent and build‐to‐rent public housing

This study analyzes the impact of public housing on adjacent neighborhoods, focusing on their consumption levels and the population share of individuals aged 20–59 years. Using administrative data on public housing and credit card usage data with detailed geography, we examine the heterogeneous effects of two types of public housing: buy‐to‐rent and build‐to‐rent. Buy‐to‐rent housing exhibits no significant effects on neighborhoods within its 500‐m radius. In contrast, build‐to‐rent housing reduces the consumption level by 1.9% and the share of the working‐age population by 0.3 percentage points. The negative effects increase as the neighborhood's proximity to public housing increases.