Public housing and the value of apartment quality to households
AbstractThe application of hedonic price approaches to obtain estimates of the households' value of apartment characteristics is invalid for regulated housing markets such as public housing. We introduce and apply an alternative method that allows us to estimate the renters' marginal willingness to pay for apartment characteristics based on residential mobility. We focus on the households' marginal willingness to pay for quality of apartments. We find that, on average, households place a monetary value on quality which is close to the non-profit housing associations' costs of providing quality.
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Bibliographic InfoArticle provided by Elsevier in its journal Regional Science and Urban Economics.
Volume (Year): 41 (2011)
Issue (Month): 3 (May)
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Web page: http://www.elsevier.com/locate/regec
Demand estimation Public housing Rental quality;
Other versions of this item:
- Jos Van Ommeren & Marnix Koopman, 2010. "Public Housing and the Value of Apartment Quality to Households," Tinbergen Institute Discussion Papers 10-085/3, Tinbergen Institute.
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
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