Pattern launches research into corporate housing ownership in the Mid-Hudson

Pattern launches research into corporate housing ownership in the Mid-Hudson

Special study made possible by Robert Wood Johnson Foundation grant

Research will fill critical data gap on the corporatization of housing in five Mid-Hudson counties amid new state laws to protect homebuyers and tenants

NEWBURGH — Hudson Valley Pattern for Progress has received a grant from the Robert Wood Johnson Foundation to conduct the first comprehensive study of corporate housing ownership and consolidation in the Mid-Hudson region, focusing on Columbia, Dutchess, Orange, Sullivan and Ulster counties. The project will unearth and quantify trends of housing corporatization and the increasing prevalence of short-term rentals to better assess impacts of these trends on housing affordability and access. To pursue this research, Pattern is partnering with nationally renowned data partners: the Center for Geospatial Solutions (CGS) at the Lincoln Institute of Land Policy and Inside Airbnb. The team’s analysis will equip communities and policymakers with data to better inform public decision-making around this issue.

Pattern was one of 30 organizations selected from more than 1,900 applicants nationwide to receive the Local Data for Equitable Communities grant. Pattern will share some of the initial data findings at its annual housing conference on October 14 at SUNY New Paltz. The full project is expected to be completed by the end of the year.

The project will specifically examine the quantity of homes in the Mid-Hudson that have been purchased by corporations in recent years. It will focus on single-family homes, along with duplexes, triplexes and quadplexes. The data analyzed by Pattern and its partners will show how the rate of corporate homeownership has changed over time, and whether market disruptions, like the Covid-19 pandemic, caused corporations to purchase more homes in the Mid-Hudson region. The research will also outline the total quantity of investor-owned homes are owned for the purposes of long-term rental versus short-term rental, and the project will yield the first comprehensive database of short-term rentals in all five counties.

The consolidation of residential ownership by large corporations is likely exacerbating the regional wealth gap between rich and poor, driving rents further out of reach for tenants, and significantly reducing access to homeownership and generational wealth for first-time homebuyers. Despite this problem, no public or private agency in New York has yet published data that would empower communities to understand the issue of corporate housing ownership. As a consequence, public discourse about investor-owned housing has not been grounded in data and facts, limiting the ability of state and local governments to make informed decisions about housing policy.

“Through anecdotal evidence and limited local data, we know that affordability challenges, displacement, and barriers to homeownership in the Mid-Hudson region are being intensified by private equity firms and other corporate entities acquiring large residential portfolios,” said Pattern for Progress CEO Adam Bosch. “But because no public agency has collected or published comprehensive data on this issue, many decision-makers remain unaware or unconvinced that it’s occurring. This project will change that.”

The project team will synthesize and analyze parcel and ownership data, map the relationship between corporate ownership and short-term rentals, and host a series sense-making sessions across the region to work with community organizations, legislators, and housing providers on strategies and policy responses.

This research comes as New York State took new steps to rein in speculative real estate practices. In their latest state budget, New York lawmakers imposed a 90-day waiting period before certain institutional investors can purchase one-family and two-family homes. This new law generally applies to entities that directly or indirectly own 10 or more homes, or have at least $30 million in net value or assets under management. The new law builds on other reforms such as the state’s LLC Transparency Act, which will require disclosure of beneficial owners of limited liability companies starting in 2026. These measures aim to level the playing field for first-time buyers and local residents in competitive housing markets.

By closing the current data gap on ownership consolidation, Pattern for Progress hopes to provide Mid-Hudson communities with information that can support local decision-making, support a more equitable playing field for housing access, and contribute to broader discussions on housing policy at the local state and national levels.

About the Local Data for Equitable Communities Grant Program

Supported by the Robert Wood Johnson Foundation and the Urban Institute, the program helps nonprofits use data to catalyze local action and address inequities in the physical, economic, or social conditions of a place. Each project demonstrates how local data can be a powerful tool for self-determination, grassroots action, and improving quality of life.

The 30 Local Data for Equitable Communities grant program grantees are located in 19 states, the District of Columbia, and Puerto Rico. Information about the selected projects, as well as updates related to the program, are available at https://localdataforequitablecommunities.org/

About the Robert Wood Johnson Foundation

The Robert Wood Johnson Foundation (RWJF) is a leading national philanthropy dedicated to taking bold leaps to transform health in our lifetime. To get there, we must work to dismantle structural racism and other barriers to health.

Through funding, convening, advocacy, and evidence-building, we work side-by-side with communities, practitioners, and institutions to achieve health equity faster and pave the way, together, to a future where health is no longer a privilege, but a right.

About the Urban Institute

The Urban Institute is a nonprofit research organization founded on one simple idea: To improve lives and strengthen communities, we need practices and policies that work. For more than 50 years, that has been our charge. By equipping changemakers with evidence and solutions, together we can create a future where every person and community has the opportunity and power to thrive.

About Hudson Valley Pattern for Progress

Hudson Valley Pattern for Progress is a nonprofit organization that provides objective research, planning and educational training throughout the region. Its work identifies civic challenges and promotes regional, equitable, and sustainable solutions to constantly improve the quality of life in communities throughout the Hudson Valley. Pattern develops its work upon a considerable foundation of facts and experience, without political aims or affiliations.

Pattern was founded in 1965 by the region’s academic, business, and nonprofit leaders. Our work focuses on housing, community and urban planning, downtown revitalization, infrastructure, transportation, demographic change, and more. We serve the counties of Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester.

The Center for Housing Solutions & Community Initiatives was created by Pattern in 2012 to promote the regional significance of diverse housing through research, planning, and policy recommendations. We utilize our housing expertise in collaboration with public and private partners to create a positive impact for the Hudson Valley. Our research, technical assistance, planning, and innovative policy solutions have helped dozens of communities throughout the region learn about their housing needs and act to meet those needs.

About Hudson Valley Pattern for Progress

Hudson Valley Pattern for Progress is a nonprofit organization that provides objective research, planning, and educational training throughout the region. Its work identifies civic challenges and promotes regional, equitable, and sustainable solutions to constantly improve the quality of life in Hudson Valley communities. Pattern develops its work upon a considerable foundation of facts and experience, without political aims or affiliations. Pattern was founded in 1965 by the region’s academic, business, and nonprofit leaders. It serves a nine-county region that includes Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester counties. Visit Pattern-For-Progress.org.

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