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The Suburban Housing Market: Effects of City and Suburban Employment Growth

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  • Richard Voith

Abstract

Using a data set of over 88,000 housing sales, we find that city employment growth has a significant positive effect on suburban house values; this effect is largest for housing closest to the central business district and declines with increasing distance from it. City employment growth has a negative effect on the rate of suburban house construction; the magnitude of the effect increases with distance. Suburban employment growth has little aggregate effect on house prices, and there is less variation by distance. Suburban growth has a significant effect on construction rates, especially at locations near the urban fringe. Copyright American Real Estate and Urban Economics Association.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/1540-6229.00786
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Bibliographic Info

Article provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.

Volume (Year): 27 (1999)
Issue (Month): 4 ()
Pages: 621-648

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Handle: RePEc:bla:reesec:v:27:y:1999:i:4:p:621-648

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Cited by:
  1. Marion Kohler & Kylie Smith, 2005. "Housing and the Household Wealth Portfolio: The Role of Location," RBA Research Discussion Papers rdp2005-10, Reserve Bank of Australia.
  2. Baum-Snow, Nathaniel & Kahn, Matthew E., 2000. "The effects of new public projects to expand urban rail transit," Journal of Public Economics, Elsevier, vol. 77(2), pages 241-263, August.
  3. Joseph Gyourko & Richard Voith, 1997. "Does the U.S. tax treatment of housing promote suburbanization and central city decline?," Working Papers 97-13, Federal Reserve Bank of Philadelphia.
  4. Liv Osland & Inge Thorsen, 2009. "Predicting housing prices at alternative locations and under alternative scenarios of the spatial job distribution," Letters in Spatial and Resource Sciences, Springer, vol. 2(2), pages 133-147, October.
  5. Taltavull de La Paz, Paloma, 2000. "Determinant Of Housing Prices In Spanish'S Urban Areas," ERSA conference papers ersa00p258, European Regional Science Association.
  6. Sofia Dermisi, 2005. "Attracting redevelopment in “inner-ring” municipalities of U.S. metropolitan areas – focusing on Los Angeles and Boston," Urban/Regional 0509008, EconWPA.
  7. Osland, Liv & Thorsen, Inge, 2007. "Predicting housing prices at alternative locations and in alternative scenarios of the spatial job distribution," Working Papers in Economics 16/07, University of Bergen, Department of Economics.
  8. Elio H Londero, 2004. "Measuring Benefits, Tracing Distributional Effects, and Affecting Distributional Outcomes," Public Economics 0407011, EconWPA.
  9. Richard Voith, 1996. "The suburban housing market: the effects of city and suburban job growth," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 13-25.

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