Bipartisan Policy Center expert tells House committee Austin reforms cut rents, offers lessons for Vermont

Francis Torres, director of housing and infrastructure at the Bipartisan Policy Center, told the House General & Housing committee on May 12 that supply‑side reforms combined with financing tools and developer support have produced measurable housing gains in several U.S. case studies.

Torres framed the issue for Vermont policymakers by noting the state’s current challenge: low vacancy, high rates of severely cost‑burdened renters, and a state goal of adding an estimated 28,000 to 41,000 homes by 2030. "Governor Phil Scott signed the Housing Opportunities Made for Everyone Act, the HOME Act, a few years ago in 2023," Torres said, calling the law an important step but not a complete solution.

Torres’ presentation highlighted four case studies. In Austin, Texas, he said, a package of reforms — changes to zoning allowing larger apartment buildings by right near jobs and transit, elimination of parking minimums, easier approval of accessory dwelling units and voter‑approved housing bonds totaling more than $600,000,000 — coincided with a decade when the city added roughly 120,000 housing units. "According to analysis from BPC and the Pew Institute and other research organizations, Austin's median rent fell from around $1,500 in December 2021 to just under $1,300 by January 2026," Torres said, and rents in larger apartment buildings fell 7% between 2023 and 2024. He said the data also show a filtering effect: new construction can reduce pressure on older units.

Torres also described Auburn, Maine, where local zoning changes, allowance of ADUs and higher density in infrastructure‑served areas produced a pipeline of more than 400 homes in active development within five years. He pointed to Montana as an example of bipartisan state‑level reform that legalized ADUs and duplexes statewide, streamlined permitting and removed some parking requirements. He cautioned that Minneapolis’ 2018 elimination of single‑family zoning faced legal and implementation obstacles and did not produce large cost reductions, underlining his conclusion that "there is no silver bullet."

Committee members asked about developer financing and whether lower rents undermine project viability; Torres said streamlined approvals and reduced costs can preserve a developer’s return even amid lower rents, but emphasized that local markets and financing structures matter. Members also questioned what scale of new housing is needed to affect rents; Torres replied that effects vary by market and that supply most commonly slows the rate of rent increases rather than producing immediate across‑the‑board decreases.

Torres closed with four lessons for policymakers: zoning reform is necessary but not sufficient; innovative financing and demand supports matter; building the developer pipeline is essential; and iterative state‑local coordination yields better results than single landmark bills. He offered to provide the committee with written materials and follow‑up data.

The committee moved to its next witnesses after a short break and asked that Torres’ materials be sent to committee staff.