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Neighborhood Parks And Residential Property Values In Greenville, South Carolina

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  • Espey, Molly
  • Owusu-Edusei, Kwame

Abstract

The effect on housing prices of proximity to different types of parks is estimated using a unique data set of single-family homes sold between 1990 and 1999 in Greenville, South Carolina. While the value of park proximity is found to vary with respect to park size and amenities, the estimates from this study are larger than previous studies. The greatest impact on housing values was found with proximity to small neighborhood parks, with the positive impact of proximity to both small and medium-size parks extending to homes as far as 1500 feet from the park.

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File URL: http://purl.umn.edu/15446
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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 33 (2001)
Issue (Month): 03 (December)
Pages:

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Handle: RePEc:ags:joaaec:15446

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Web page: http://www.saea.org/jaae/jaae.htm
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Related research

Keywords: hedonic valuation; open space; urban parks; value of parks; Land Economics/Use;

References

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  1. Brent L. Mahan & BStephen Polasky & Richard M. Adams, 2000. "Valuing Urban Wetlands: A Property Price Approach," Land Economics, University of Wisconsin Press, vol. 76(1), pages 100-113.
  2. Mark R. Correll & Jane H. Lillydahl & Larry D. Singell, 1978. "The Effects of Greenbelts on Residential Property Values: Some Findings on the Political Economy of Open Space," Land Economics, University of Wisconsin Press, vol. 54(2), pages 207-217.
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Cited by:
  1. Carolyn A. Dehring & Craig A. Depken, II & Michael R. Ward, 2006. "The Impact of Stadium Announcements on Residential Property Values: Evidence from a Natural Experiment in Dallas-Fort Worth," Working Papers 0616, International Association of Sports Economists;North American Association of Sports Economists.
  2. Steven D. Shultz & Nicholas J. Schmitz, 2009. "Augmenting Housing Sales Data to Improve Hedonic Estimates of Golf Courses," Journal of Real Estate Research, American Real Estate Society, vol. 31(1), pages 63-80.
  3. Larkin, Sherry L. & Alavalapati, Janaki R.R. & Shrestha, Ram K., 2005. "Estimating the Cost of Preserving Private Lands in Florida: An Hedonic Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 37(01), April.
  4. GB. Concu, 2004. "Effects of distance on non-use values," Working Paper CRENoS 200411, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  5. Concu, Giovanni B, 2005. "Investigating distance effects on environmental values: A choice modelling approach," Risk and Sustainable Management Group Working Papers 149853, University of Queensland, School of Economics.
  6. Cervero, Robert & Kang, Junhee & Shively, Kevin, 2009. "From elevated freeways to surface boulevards: neighborhood and housing price impacts in San Francisco," University of California Transportation Center, Working Papers qt33q2012g, University of California Transportation Center.
  7. Fakhruddin, Fahmida & Espey, Molly, 2003. "Living On The Edge: Residential Property Values In The Urban/Rural Fringe?," 2003 Annual meeting, July 27-30, Montreal, Canada 22072, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  8. Owusu-Edusei, Kwame & Espey, Molly, 2003. "School Quality And Property Values In Greenville, South Carolina," Working Papers 18809, Clemson University, Department of Agricultural and Applied Economics.
  9. Monique DANTAS (GREThA UMR CNRS 5113) & Frédéric GASCHET (GREThA UMR CNRS 5113) & Guillaume POUYANNE (GREThA UMR CNRS 5113), 2010. "Regulatory zoning and coastal housing prices: a bayesian hedonic approach (In French)," Cahiers du GREThA 2010-12, Groupe de Recherche en Economie Théorique et Appliquée.
  10. GB. Concu, 2004. "A choice modelling approach to investigate biases in individual and aggregated benefit estimates due to omission of distance," Working Paper CRENoS 200412, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  11. Anderson, Soren T. & West, Sarah E., 2006. "Open space, residential property values, and spatial context," Regional Science and Urban Economics, Elsevier, vol. 36(6), pages 773-789, November.
  12. Kang, Chang Deok & Cervero, Robert, 2008. "From Elevated Freeway to Linear Park: Land Price Impacts of Seoul, Korea's CGC Project," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt81r021w2, Institute of Transportation Studies, UC Berkeley.
  13. Lake, Mary Beth & Easter, K. William, 2002. "Hedonic Valuation Of Proximity To Natural Areas And Farmland In Dakota County, Minnesota," Staff Papers 13407, University of Minnesota, Department of Applied Economics.

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