Map: mortgage interest deduction underwrites suburbs

Mortgage interest deduction amounts by ZIP

See those donut holes? Inner-city areas with low rates of homeownership, low incomes (and thus fewer residents who itemize deductions), and relatively lower property values are receiving far less of America’s fattest housing subsidy — the mortgage-interest personal income tax deduction (see previous discussion) — than their better-off suburbs. The sprawl subsidies continue apace.

The bigger picture is that this is a subsidy that overwhelmingly benefits wealthy people who have expensive houses, and big mortgages to match — and thus benefits “coastal elites” more.

Map from the Pew Center on the States’ report “The Geographic Distribution of the Mortgage Interest Deduction” (PDF).

2 thoughts on “Map: mortgage interest deduction underwrites suburbs

  1. Pingback: The Granddaddy of Sprawl Subsidies, Illustrated |

  2. Pingback: The Granddaddy of Sprawl Subsidies, Illustrated | Streetsblog New York City

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