New York's rent freeze is under legal scrutiny as landlords challenge its approval in court. In Minneapolis, a study reveals that the city's elimination of single-family zoning has led to home values being 15% to 20% lower than they would have been otherwise, while rents have decreased nearly 20% since 2020. The findings highlight the complex relationship between zoning laws and housing prices.
Key facts
- New York's rent freeze is being contested in court.
- Minneapolis eliminated single-family zoning in January 2020.
- Home values in Minneapolis are 15% to 20% lower due to zoning changes.
- Rents in Minneapolis have fallen nearly 20% since 2020.
- About 21,000 homes were permitted in Minneapolis from 2017 to 2022.
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