Discussion Paper

Do Landlords Respond to Wage Policy? Estimating the Minimum Wage Effect on Apartment Rent Prices

Abstract: Minimum wage policies in the United States have lifted real earnings for workers around the low end of the income distribution (Dube, 2019) and thus may alleviate some of the financial stress felt by low-wage renters (Mateyka and Yoo, 2023). However, landlords, potentially facing a boost to local housing demand, may be able to capture some portion of these earnings' gains by raising rents, mitigating welfare benefits for affected workers.

https://doi.org/10.17016/2380-7172.3621

Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2025-02-14

Number: 2025-02-14-2