The impact of a new light rail system on single-family property values in Charlotte, North Carolina
AbstractThis paper examines the impact of a new light rail system on single-family housing values in Charlotte, North Carolina, from 1997 to 2008. We use a Hedonic Price Analysis (HPA) to estimate how proximity to light rail, housing characteristics, and spatial components (at a block group level) affect single-family housing values. The same method is applied to each of the four time periods (t1, t2, t3, t4) that coincide with the pre-planning, planning, construction, and operation phase of the light rail system. We observe a trend that suggests a greater desirability to live closer to a light rail station as the transit system becomes operational.
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Bibliographic InfoArticle provided by Center for Transportation Studies, University of Minnesota in its journal The Journal of Transport and Land Use.
Volume (Year): 5 (2012)
Issue (Month): 2 ()
light rail; housing values; Charlotte; North Carolina; Hedonic Price Analysis;
Find related papers by JEL classification:
- R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Systems - - - General
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