The Market Value of Reproductive Rights: Evidence from U.S. Housing Markets

We estimate the market value of reproductive rights as capitalized into U.S. housing markets. We do so using a synthetic difference-in-differences design to evaluate the effects of total abortion bans following the 2022 Dobbs decision, and drawing on housing market indices from Zillow and vacancy rate data from the U.S. Census Bureau's Housing Vacancy Survey. The results indicate that total abortion bans reduced rents by an average of 2.2% from July 2022 through June 2025, with the effect reaching 4.0% in the most recent year. Over the same horizon, bans increased rental vacancy rates by an average of 1.1 percentage points, with the effect reaching 1.8 percentage points in the most recent year. Estimates for home values and homeowner vacancy rates are similar in magnitude but less precise.