Advanced Search
MyIDEAS: Login to save this article or follow this journal

Thoroughfares and Apartment Values

Contents:

Author Info

Registered author(s):

    Abstract

    While the monocentric urban models were once adequate for predicting the declining rent gradients for North American cities, the advent of a transportation system with major arteries such as turnpikes, thoroughfares and commuter rails has distorted the rent gradient for many cities. In this study we examine the rent (or value) gradient for the City of Philadelphia with special reference to the impact of two major urban thoroughfares on apartment values. We find that apartment values decline by approximately 2.2% and 3.8% per block from major thoroughfares, while holding distance to the CBD and standard variables constant. As to be expected, distance to the CBD still continues to exert a dominant influence on apartment values in spite of the impacts of the thoroughfares. The findings are consistent with Ôaxial growth theory.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol12n01/v12p009.pdf
    File Function: Full text
    Download Restriction: no

    Bibliographic Info

    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 12 (1996)
    Issue (Month): 1 ()
    Pages: 9-16

    as in new window
    Handle: RePEc:jre:issued:v:12:n:1:1996:p:9-16

    Contact details of provider:
    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
    Email:
    Web page: http://www.aresnet.org/

    Order Information:
    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
    Email:
    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

    Related research

    Keywords:

    Find related papers by JEL classification:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Cropper, Maureen L. & Gordon, Patrice L., 1991. "Wasteful commuting: A re-examination," Journal of Urban Economics, Elsevier, vol. 29(1), pages 2-13, January.
    2. Joseph G. Kowalski & Peter F. Colwell, 1986. "Market Versus Assessed Values of Industrial Land," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(2), pages 361-373.
    3. Gin, Alan & Sonstelie, Jon, 1992. "The streetcar and residential location in nineteenth century Philadelphia," Journal of Urban Economics, Elsevier, vol. 32(1), pages 92-107, July.
    4. Dixie M. Blackley & James R. Follain, 1987. "Tests of Locational Equilibrium in the Standard Urban Model," Land Economics, University of Wisconsin Press, vol. 63(1), pages 46-61.
    5. James R. Frew & G. Donald Jud & Daniel T. Winkler, 1990. "Atypicalities and Apartment Rent Concessions," Journal of Real Estate Research, American Real Estate Society, vol. 5(2), pages 195-202.
    6. G. Stacy Sirmans & C.F. Sirmans & John D. Benjamin, 1994. "Apartment Rent, Concessions and Occupancy Rates," Journal of Real Estate Research, American Real Estate Society, vol. 9(3), pages 299-312.
    7. E Heikkila & P Gordon & J I Kim & R B Peiser & H W Richardson & D Dale-Johnson, 1989. "What happened to the CBD-distance gradient?: land values in a policentric city," Environment and Planning A, Pion Ltd, London, vol. 21(2), pages 221-232, February.
    8. Quigley, John M., 1985. "Consumer choice of dwelling, neighborhood and public services," Regional Science and Urban Economics, Elsevier, vol. 15(1), pages 41-63, February.
    9. White, M.J., 1988. "Urban Commuting Journeys Are Not Wasteful," Papers 88-10, Michigan - Center for Research on Economic & Social Theory.
    10. Steen, Robert C., 1986. "Nonubiquitous transportation and urban population density gradients," Journal of Urban Economics, Elsevier, vol. 20(1), pages 97-106, July.
    11. Karl L. Guntermann & Stefan Norrbin, 1987. "Explaining the Variability of Apartment Rents," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 15(4), pages 321-340.
    12. Richard Voith, 1991. "Transportation, Sorting and House Values," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(2), pages 117-137.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Beth Wilson & James Frew, 2007. "Apartment Rents and Locations in Portland, Oregon: 1992 – 2002," Journal of Real Estate Research, American Real Estate Society, vol. 29(2), pages 201-218.
    2. Boris A. Portnov & Bella Genkin & Boaz Barzilay, 2009. "Investigating the Effect of Train Proximity on Apartment Prices: Haifa, Israel as a Case Study," Journal of Real Estate Research, American Real Estate Society, vol. 31(4), pages 371-396.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:12:n:1:1996:p:9-16. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.