Housing Choices Good for Home Values.

Towns with housing units of assorted sizes tend to have, and maintain, higher home values than towns that lack residential housing choices. Home values also tend to be higher in towns that offered a wider assortment of home sizes and growing diversity seemed to enhance these values over time.

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Real Estate Institute at Stony Brook University College of Business: Impact of Market Rate Apartments on School District Enrollment May 2019.

The Real Estate Institute at Stony Brook University’s College of Business conducted a study where they followed 14 multifamily developments in 10 different school districts across Nassau and Suffolk counties. 

The study found that, over the last decade, new developments:

  • Accounted for 3,928 units of housing. 
  • Produced only 313 new students (1 student per 10 housing units). 
  • Were tax-positive for their communities.
  • Brought in occupants that lead to new property and school taxes and took advantage of the school at a much lower rate than single-family occupants. 

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Survey: The Next Generation of Long Islanders.

A study comprising 1,805 online surveys of adults between the ages of 18 and 34 was recently conducted. Among other things, the study found that

  • More than 2 in 3 Long Islanders either rent or live in the home of a relative, most in single-family homes.
  • 67% plan to move away from Long Island for more affordable housing.
  • Long Island lags behind New York City and New York State in rental occupancy.
  • 87% want to live in a place that supports small business and independent stores. 
  • 85% want to live close to a vibrant and pedestrian-friendly downtown.
  • 74% stated that they prefer living in a place that is known for being artistic and creative.

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