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Hedonic Estimation and Policy Significance of the Impact of HOPE VI on Neighborhood Property Values

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  • Edward Bair
  • John M. Fitzgerald

Abstract

HOPE VI was designed as a program to revitalize distressed public housing. This study uses hedonic methods to test whether projects that are rebuilt with HOPE VI funds have a positive effect on surrounding property values. Comparisons are made between HOPE VI and other types of public housing programs using data on property values by census block groups from the 2000 census. We find that HOPE VI had a statistically significant positive impact on surrounding property values on the order of 8–10% for every quarter‐mile closer that a housing unit was located to the development. Other public housing developments were found to have little if any effect on property values.

Suggested Citation

  • Edward Bair & John M. Fitzgerald, 2005. "Hedonic Estimation and Policy Significance of the Impact of HOPE VI on Neighborhood Property Values," Review of Policy Research, Policy Studies Organization, vol. 22(6), pages 771-786, November.
    • Handle: RePEc:bla:revpol:v:22:y:2005:i:6:p:771-786
    DOI: 10.1111/j.1541-1338.2005.00175.x
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