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Effects of Light and Commuter Rail Transit on Land Prices: Experiences in San Diego County

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  • Cervero, Robert
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    Abstract

    Using hedonic price models, appreciable land-value premiums were found for multiple land uses in different rail corridors of San Diego County. The most appreciable benefits were for condominiums and single-family housing near commuter-rail stations in the north county, multi-family housing near light-rail stations, and commercial properties near downtown commuter-rail stations and light-rail stops in the Mission Valley. Elsewhere, commercial properties accrued small or even negative capitalization benefits. Pro-development policies, worsening traffic congestion, and a generally healthy economy are thought to have generally boosted land values in San Diego County, though impacts are corridor- and land-use specific.

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    File URL: http://www.escholarship.org/uc/item/75n1b5xc.pdf;origin=repeccitec
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    Bibliographic Info

    Paper provided by University of California Transportation Center in its series University of California Transportation Center, Working Papers with number qt75n1b5xc.

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    Date of creation: 01 Sep 2006
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    Handle: RePEc:cdl:uctcwp:qt75n1b5xc

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    Keywords: Social and Behavioral Sciences;

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    1. Timothy J. Bartik, 2008. "Measuring the Benefits of Amenity Improvements in Hedonic Price Models," Book chapters authored by Upjohn Institute researchers, in: Joseph Herriges & Catherine L. Kling (ed.), Revealed Preference Approaches to Environmental Valuation, volume 0, pages 53-64 W.E. Upjohn Institute for Employment Research.
    2. Dean H. Gatzlaff & Marc T. Smith, 1993. "The Impact of the Miami Metrorail on the Value of Residences near Station Locations," Land Economics, University of Wisconsin Press, vol. 69(1), pages 54-66.
    3. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
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