Multifamily Housing: A Review of Theory and Evidence

60 Pages Posted: 7 Jan 2007

See all articles by Emily Norman Zietz

Emily Norman Zietz

Middle Tennessee State University - Department of Economics and Finance

Abstract

The growing importance of multifamily housing as a viable choice of residence is evidenced by the number of empirical and theoretical studies in the real estate literature. Researchers have investigated the role of this sector of the real estate market for decades. This survey article examines more than one hundred studies and categorizes them into five groups: economic and market efficiency issues; property valuation and appraisal issues; regulatory, zoning and clustering of multifamily complexes; costs, returns and rental income issues; and demand, vacancy and occupancy issues. This study seeks to provide a concise, categorical presentation of findings on issues related to the environment and performance of multifamily housing.

Keywords: multifamily housing, market efficiency, property valuation, appraisal

JEL Classification: R21, R31, R11-15

Suggested Citation

Norman Zietz, Emily, Multifamily Housing: A Review of Theory and Evidence. Journal of Real Estate Research Vol. 25, No. 2, 2003, Available at SSRN: https://ssrn.com/abstract=955329

Emily Norman Zietz (Contact Author)

Middle Tennessee State University - Department of Economics and Finance ( email )

Murfreesboro, TN 37132
United States
615-895-6027 (Phone)

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