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Ask Adam: Will Affordable Housing Hurt My Home’s Value?

by ARLnow.com Sponsor February 10, 2015 at 2:00 pm 1,978 0

Ask Adam Real Living header

This regularly-scheduled sponsored Q&A column is written by Adam Gallegos, Arlington-based real estate broker, voted one of Arlington Magazine’s Best Realtors of 2013 & 2014. Please submit your questions via email.

Q. I live in South Arlington. Will the construction of new affordable housing next door affect the value of my building and condo?

A. When you hear the words “affordable housing,” you may be picturing something out of a scene from the TV show The Wire. The reality is that there are affordable housing neighborhoods all over (north and south) Arlington that fit right into the community.

I’m not sure which new development you are describing, but if it is new like you mentioned, it is likely to be very nice inside and out. Many of the the newer affordable housing buildings rival the accommodations that demand thousands of dollars per month in rent on the open market.

Off the top of my head, I can think of million-dollar-plus condo buildings, townhomes and single family homes that exist within a block or two of affordable housing in Arlington. I’ve helped people buy and sell homes in each of these communities and it has never been a major concern. I do not see any evidence that it has affected home values in the slightest.

Please send questions to me at [email protected]

The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.

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