STUDY: The Effects of Rent Control Expansion on Tenants, Landlords, and Inequality: Evidence from San Francisco.

The whole thing is behind the SSRN paywall, but maybe you’ll find it worth your $5.

Here’s the summary:

We exploit quasi-experimental variation in assignment of rent control to study its impacts on tenants, landlords, and the overall rental market. Leveraging new data tracking individuals’ migration, we find rent control increased renters’ probabilities of staying at their addresses by nearly 20%. Landlords treated by rent control reduced rental housing supply by 15%, causing a 5.1% city-wide rent increase. Using a dynamic, neighborhood choice model, we find rent control offered large benefits to covered tenants.

Unexpectedly.