In a recent study, the NAA examined the impact of a 7 percent annual cap on apartment rents in Chicago, Denver, Seattle and Portland by 2030. Tune in for the eyebrow-raising results.
A year ago, Oregon became the first state to impose rent control on landlords. California and New York followed suit, and now several other metropolitan areas are having calls for similar bills. At the beginning of 2019, the National Apartment Association engaged Capital Policy Analytics to examine the impact of a 7 percent annual rent growth cap on apartments in four major U.S. metros by 2030. CPA used the Oregon legislation as a likely precedent for other governments.
NAA’s analysis illustrates rent control’s potential and devastating effects. These policies have more unintended consequences than positive effects. In our latest NAA podcast from the series, Senior Associate Editor Laura Calugar discusses long-term effects of rent control with Paula Munger, the association’s director of industry, research and analysis.