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Effects of Light and Commuter Rail Transit on Land Prices: Experiences in San Diego County

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  • Cervero, Robert

Abstract

Using hedonic price models, appreciable land-value premiums were found for multiple land uses in different rail corridors of San Diego County. The most appreciable benefits were for condominiums and single-family housing near commuter-rail stations in the north county, multifamily housing near light-rail stations, and commercial properties near downtown commuterrail stations and light-rail stops in the Mission Valley. Elsewhere, commercial properties accrued small or even negative capitalization benefits. Pro-development policies, worsening traffic congestion, and a generally healthy economy are thought to have generally boosted land values in San Diego County, though impacts are corridor- and land-use specific.

Suggested Citation

  • Cervero, Robert, 2004. "Effects of Light and Commuter Rail Transit on Land Prices: Experiences in San Diego County," Journal of the Transportation Research Forum, Transportation Research Forum, vol. 43(1).
    • Handle: RePEc:ags:ndjtrf:206725
    DOI: 10.22004/ag.econ.206725
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    Cited by:

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    4. López-Morales, Ernesto & Sanhueza, Claudia & Herrera, Nicolás & Espinoza, Sebastián & Mosso, Vicente, 2023. "Land and housing price increases due to metro effect: An empirical analysis of Santiago, Chile, 2008–2019," Land Use Policy, Elsevier, vol. 132(C).
    5. Turnquist, Alan & Fortenbery, T. Randall & Foltz, Jeremy D., 2008. "Progress or Devastation? The Effects of Ethanol Plant Location on Local Land Use," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6125, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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    7. Pearson, Jonathan & Muldoon-Smith, Kevin & Liu, Henry & Robson, Simon, 2022. "How does the extension of existing transport infrastructure affect land value? A case study of the Tyne and Wear Light Transit Metro system," Land Use Policy, Elsevier, vol. 112(C).
    8. Keith Klovers & Alfredo Marvão Pereira, 2015. "Estimating the Effect of Transit on Residential Property Values: The Case of the Portland MAX System," Working Papers 166, Department of Economics, College of William and Mary.
    9. Mathur, Shishir & Ferrell, Christopher, 2013. "Measuring the impact of sub-urban transit-oriented developments on single-family home values," Transportation Research Part A: Policy and Practice, Elsevier, vol. 47(C), pages 42-55.
    10. Arthur C. Nelson, 2009. "The New Urbanity: The Rise of a New America," The ANNALS of the American Academy of Political and Social Science, , vol. 626(1), pages 192-208, November.
    11. Kevin Credit, 2018. "Transit-oriented economic development: The impact of light rail on new business starts in the Phoenix, AZ Region, USA," Urban Studies, Urban Studies Journal Limited, vol. 55(13), pages 2838-2862, October.
    12. Guthrie, Andrew & Fan, Yingling, 2016. "Developers' perspectives on transit-oriented development," Transport Policy, Elsevier, vol. 51(C), pages 103-114.

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