New Highways, House Prices, and Urban Development: A Case Study of Toll Roads in Orange County, CA
AbstractWe examine the link between highways and urban development by employing both hedonic analysis and multiple sales techniques to study the impact of the construction of toll roads in Orange County, California, on house prices. Urban economic theory predicts that if highways improve accessibility, that accessibility premium will be reflected in higher land prices. Our empirical analysis of house sales prices provide strong evidence that the toll roads, the Foothill Transportation Corridor Backbone in particular, created an accessibility premium; home buyers are willing to pay for the increased access that the new roads provide. Such willingness to pay influences both development patterns and, potentially, induced travel (the association between increases in highway capacity and increases in vehicles miles of travel). The results are consistent with the idea that induced travel is caused, in part, by changes in urban development patterns that are linked to increases in highway capacity .
Download InfoIf 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.
Bibliographic InfoPaper provided by University of California Transportation Center in its series University of California Transportation Center, Working Papers with number qt2zd554cs.
Date of creation: 01 Jan 2003
Date of revision:
Contact details of provider:
Postal: 109 McLaughlin Hall, Mail Code 1720, Berkeley, CA 94720-1720
Web page: http://www.escholarship.org/repec/uctc/
More information through EDIRC
Housing; land use; prices; Social and Behavioral Sciences;
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Steven Carter, 2008. "Court-ordered Busing and Housing Prices: The Case of Pasadena and San Marino," Journal of Real Estate Research, American Real Estate Society, vol. 30(3), pages 377-394.
- Claudio Agostini & Gastón Palmucci, 2006.
"Capitalización Heterogénea de un Bien Semipúblico: El Metro de Santiago,"
ILADES-Georgetown University Working Papers
inv175, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines.
- Claudio A. Agostini & Gastón Palmucci, 2008. "Capitalización Heterogénea de un Bien Semipúblico: El Metro de Santiago," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 45(131), pages 105-128.
- Cervero, Robert & Kang, Chang Deok, 2009. "Bus Rapid Transit Impacts on Land Uses and Land Values in Seoul, Korea," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt4px4n55x, Institute of Transportation Studies, UC Berkeley.
- Cervero, Robert & Kang, Chang Deok, 2011. "Bus rapid transit impacts on land uses and land values in Seoul, Korea," Transport Policy, Elsevier, vol. 18(1), pages 102-116, January.
- Rhoads, Thomas A. & Shogren, Jason F., 2006. "Why do cities use supply side strategies to mitigate traffic congestion externalities?," Economics Letters, Elsevier, vol. 92(2), pages 214-219, August.
- Lindsey, Marshall & Schofer, Joseph L. & Durango-Cohen, Pablo & Gray, Kimberly A., 2010. "Relationship between proximity to transit and ridership for journey-to-work trips in Chicago," Transportation Research Part A: Policy and Practice, Elsevier, vol. 44(9), pages 697-709, November.
- Stephen Conroy & Jennifer Milosch, 2011. "An Estimation of the Coastal Premium for Residential Housing Prices in San Diego County," The Journal of Real Estate Finance and Economics, Springer, vol. 42(2), pages 211-228, February.
- Jean-Daniel Saphores & Ismael Aguilar-Benitez, 2005. "Smelly local polluters and residential property values: A hedonic analysis of four Orange County (California) cities," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 20(2), pages 197-218.
- Ghislaine Deymier, 2003. "Capitalisation immobilière des gains d'accessibilité : état de l'art et étude de cas sur l'agglomération lyonnaise," Post-Print halshs-00100326, HAL.
- Davis, Coray & Jha, Manoj K., 2011. "A dynamic modeling approach to investigate impacts to protected and low-income populations in highway planning," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(7), pages 598-610, August.
- Kang, Chang Deok & Cervero, Robert, 2008. "From Elevated Freeway to Linear Park: Land Price Impacts of Seoul, Korea's CGC Project," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt81r021w2, Institute of Transportation Studies, UC Berkeley.
- Funderburg, Richard G. & Nixon, Hilary & Boarnet, Marlon G. & Ferguson, Gavin, 2010. "New highways and land use change: Results from a quasi-experimental research design," Transportation Research Part A: Policy and Practice, Elsevier, vol. 44(2), pages 76-98, February.
- Ghislaine Deymier, 2002. "Le nouveau périphérique Nord de Lyon : comment analyser les effets anticipés sur l'évolution du marché foncier et immobilier de l'agglomération lyonnaise ?," Post-Print halshs-00106258, HAL.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lisa Schiff).
If references are entirely missing, you can add them using this form.