Comparative analysis of MCDM methods for the assessment of sustainable housing affordability

While affordability is traditionally assessed in economic terms, this paper tests a new assessment method that draws closer links with sustainability by considering economic, social, and environmental criteria that impact a household’s quality of life. The paper presents an empirical application and comparison of six different multiple criteria decision-making (MCDM) approaches to assess sustainable housing affordability.

The comparative performance of the weighted product model (WPM), the weighted sum model (WSM), the revised AHP, TOPSIS, and COPRAS, are investigated. The purpose of the comparative analysis is to determine how different MCDM methods compare when used for a sustainable housing affordability assessment model. 20 evaluative criteria and 10 alternativeareas in Liverpool, England, were considered. The applicability of different MCDM methods for the focused decision problem was investigated. The paper discusses the similarities in MCDM methods, evaluates their robustness, and contrasts the resulting rankings.

Also Read: The Case of Affordable Housing A Global Perspective on Financing and Institutional Ownership