Minimum wages and rents

This topic remains underdiscussed in the minimum wage debates, here are some recent results from Atsushi Yamagishi:

I analyze the effect of minimum wage hikes on housing rents using exogenous variation in minimum wages across local labor markets in Japan. I estimate that in low-quality rental housing market, a 10% minimum wage increase induces a 2.5%–4.5% increase in rents. Minimum wage hikes benefit workers in light of a spatial equilibrium model showing that changes in housing market rents work as a sufficient statistic for measuring utility changes arising from changes in minimum wages. The increase in housing rents also implies an unintended benefit for homeowners.

Atsushi Yamagishi is from Princeton economics, but that is not his job market paper, here is the whole portfolio, which looks quite interesting.