SOME OF THE FACTORS HYPOTHESIZED TO BE RELATED TO HOUSING VALUES ARE THE PERCENTAGE OF RESIDENTS LIVING AT ONE ADDRESS, THE PERCENTAGE OF RESIDENT UNITS REPORTED BURGLARIZED DURING A 1-YEAR PERIOD, AND REPORTED VANDALISMS PER 1,000 PERSONS. VANDALISM AND BURGLARY ARE THE TWO TYPES OF CRIME RECOGNIZED TO HAVE AN EFFECT ON HOUSING VALUES. WHEN THE MULTIPLE REGRESSION MODEL IS APPLIED ACROSS CENSUS TRACTS IN MINNEAPOLIS MINN., A CITY IN WHICH RESIDENTIAL BURGLARY RATES VARY FROM A MINIMUM OF LESS THAN 1 PERCENT TO A MAXIMUM OF ALMOST 14 PERCENT, RESULTING DATA INDICATE THAT CRIME IS ASSOCIATED WITH THE VALUES OF HOUSING IN NEIGHBORHOODS; HOWEVER, THERE IS SOME UNCERTAINTY ABOUT THE PRECISE DOLLAR AMOUNT. THIS IS PARTLY BECAUSE THE CRIME DATA WERE DRAWN FROM POLICE OFFICER REPORTS FOR JULY 1974 AND CENSUS AND HOUSING DATA CAME FROM THE 1970 CENSUS. ONE COST OF CRIME TO MINNEAPOLIS IS PROPERTY TAX REVENUE LOST DUE TO CRIME'S EFFECT ON HOUSING VALUES--APPROXIMATELY $7 MILLION A YEAR FOR VANDALISM AND $10 MILLION FOR RESIDENTIAL BURGLARY. ALTHOUGH THIS ANALYSIS INDICATES THAT AVERAGE HOUSING VALUES ARE RELATED TO NEIGHBORHOOD CRIME RATES, HOMEOWNERS CAN INFER THAT THEIR INDIVIDUAL PROPERTY VALUE WILL DECLINE IF MADE THE TARGET OF BURGLARY AND VANDALISM. THEY SHOULD TAKE STEPS TO PROTECT THEIR PERSONAL PROPERTY. EXPLANATIONS OF DATA SOURCES, TABULAR INFORMATION, AND REFERENCES ARE PROVIDED. (DAG)