Examining the efficacy of rent control: an empirical analysis for consideration of rent control in Seattle

Abstract

Rent control has been a controversial set of regulations since its initial implementation in 1942. The perceived costs and benefits align with efficiency and distributional consequences. The perceived costs include a reduction of units, lower levels of maintenance, lower levels of new construction, and reduced mobility. The perceived benefits include lower rent levels, reduced rates of gentrification, community stability and increased security for lower income, elderly, minorities, and families and with children. Using a systematic review of eight broad, empirical studies I will examine the evidence to ascertain whether the theories of rent control policies are upheld in practice. I will then extrapolate from those results to form opinions about the possible effects on the Seattle rental housing market.