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Gated Community Premiums and Amenity Differentials in Residential Subdivisions

Author

Listed:
  • Evgeny Radetskiy

    (University of Memphis)

  • Ronald W. Spahr

    (University of Memphis)

  • Mark A. Sunderman

    (University of Memphis)

Abstract

We use hedonic models to examine price differences between single family homes in gated communities and a matched sample in non-gated communities in Shelby County, TN. Controlling for idiosyncratic attributes; we find that homes in gated communities carry significant price premiums relative to similar homes in non-gated communities. Price premiums are highest for medium size gated communities; whereas, premiums were also evident in higher priced gated communities before 2008, but vanished after the financial crisis. Gated communities offer homeowners additional hedonic attributes but usually have higher infrastructure and service costs. Thus price premiums result from net benefits of gated communities.

Suggested Citation

  • Evgeny Radetskiy & Ronald W. Spahr & Mark A. Sunderman, 2015. "Gated Community Premiums and Amenity Differentials in Residential Subdivisions," Journal of Real Estate Research, American Real Estate Society, vol. 37(3), pages 405-438.
    • Handle: RePEc:jre:issued:v:37:n:3:2015:p:405-438
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    Cited by:

    1. Michael Makovi, 2019. "Government vs. Governance: Libertarianism and Private Communities," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 34(Spring 20), pages 39-57.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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