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Does Close Count? School Proximity, School Quality, and Residential Property Values

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Author Info

  • Owusu-Edusei, Kwame
  • Espey, Molly
  • Lin, Huiyan

Abstract

This study jointly estimates the impact of school quality and school proximity on residential property values in Greenville, South Carolina. While quality is found to be capitalized into residential property values, the degree of capitalization depends on school level and proximity to each school for which the house is zoned for attendance. In general, there is positive value associated with closer proximity to schools of all levels, and negative value associated with a significantly longer than average distance to schools. In terms of quality rankings, excellence at the elementary and high school levels has the strongest impact on property values.

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File URL: http://purl.umn.edu/6609
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Bibliographic Info

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

Volume (Year): 39 (2007)
Issue (Month): 01 (April)
Pages:

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Handle: RePEc:ags:joaaec:6609

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

Keywords: hedonics; park proximity; school proximity; school quality; Land Economics/Use; I21; O18; R21;

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Cited by:
  1. Nguyen-Hoang, Phuong & Yinger, John, 2011. "The capitalization of school quality into house values: A review," Journal of Housing Economics, Elsevier, vol. 20(1), pages 30-48, March.

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