Many homeowners fear low-income housing will decrease their values. However, ask some key questions: 1) what are the income requirements? 2) Is is for owners or renters? 3) what are the CCR's?
For example, in Los Gatos (a high income area, with avg of $120K+/annual income at the time 15 years ago), the first low income rental housing had a requirement that renters' income ranged between 40-60% of that city's average (~$50-70K)-not exactly poverty level. Within the first 3 years, about 8 families had managed to save enough money to move out and purchase homes on their own (the goal of the program).
In that area, values continued to rise at normal to high levels, contrary to existing homeowner expectations.