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The Impact of Transit Corridors on Residential Property Values

Author

Listed:
  • John A. Kilpatrick

    (Greenfield Advisors LLC, Seattle, Washington 98121)

  • Ronald C. Throupe

    (Greenfield Advisors LLC, Seattle, Washington 98121)

  • John I. Carruthers

    (U.S. Department of Housing and Urban Development, Office of Policy Development and Research)

  • Andrew Krause

    (Greenfield Advisors LLC, Seattle, Washington 98121)

Abstract

Most of the literature on transit corridors, such as superhighways and tunnels, focuses on the positive externality of transit access (e.g., interstate access, transit station) and fails to isolate the negative externality of the corridor itself. This empirical study examines two situations: one with both access benefits and negatives, and another without the access benefit. The findings reveal that proximity to the transit corridor alone without direct access conveys a negative impact on nearby housing values.

Suggested Citation

  • John A. Kilpatrick & Ronald C. Throupe & John I. Carruthers & Andrew Krause, 2007. "The Impact of Transit Corridors on Residential Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 29(3), pages 303-320.
    • Handle: RePEc:jre:issued:v:29:n:3:2007:p:303-320
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    References listed on IDEAS

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    Cited by:

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    15. Billings, Stephen B., 2011. "Estimating the value of a new transit option," Regional Science and Urban Economics, Elsevier, vol. 41(6), pages 525-536.
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    18. Helen X. H. Bao & Doris Ka Chuen Mok, 2020. "A Link between East and West: How the Guangzhou-Shenzhen-Hong Kong Express Rail Link Affects Property Prices in Hong Kong," International Real Estate Review, Global Social Science Institute, vol. 23(3), pages 993-1021.
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