CITYBUILDER Brief: More Housing Protects Low-Income Renters

Pew proves increased supply lowers rents; Raleigh weighs affordable housing bond. Book club Mar 25.

On the National Radar:

Pew Study: More Housing Lowers Rents

A new report from Pew Research shows that zoning reforms and subsequent housing supply increases improve housing affordability for everyone.

The evidence: Pew’s study tracked Austin rents before and after major zoning reforms, and showed that rents dropped as the housing supply rose. From 2021 to 2025, Austin’s median rent fell by 4%, and inflation-adjusted rents declined by 19%, even as the city’s population grew by nearly 10%.

Low-income improvement: Rent declined the most in older, lower-cost, apartment buildings, which typically serve lower-income renters. This demonstrates that increased housing production improves affordability for the most vulnerable tenants.