The research in this article examines the effect on cnme rates of public housing transformation in Atlanta and Chicago, focusing on the neighborhoods receiving households relocated with housing vouchers. Modeling the complex relationship between voucher holder locations and crime, using quarterly data, our analysis found that cnme rates fell substantially in neighborhoods with public housing demolition, whereas destination neighborhoods experienced a much lesser effect than popular accounts imply. Nevertheless, on average, negative effects emerge for some neighborhoods with modest or high densities of relocated households compared with conditions in areas without relocated households. Overall, we estimate small net decreases citywide in violent cnme over study periods during which cnme declined significantly. These findings suggest a need for thoughtful relocation strategies that support both assisted residents and receiving communities.