The Effect of Sports Franchises on Property Values: The Role of Owners versus Renters
AbstractThis paper estimates the public benefits to homeowners in cities with NFL franchises by examining housing prices rather than housing rents. In contrast to Carlino and Coulson (2004) we find that the presence of an NFL franchise has no effect on housing prices in a city. Furthermore, we also test whether the presence and size of the subsidy to the team affects values and find that higher subsidies for NFL stadium construction lead to lower house prices. This suggests that the benefits that homeowners receive from the presence of a team are negated by the increased tax burden due to the subsidies paid to the franchises.
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Bibliographic InfoPaper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 1001.
Length: 21 pages
Date of creation: Apr 2010
Date of revision:
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Fax: (508) 793-3708
Web page: http://www.holycross.edu/departments/economics/website/
More information through EDIRC
impact analysis; stadiums; football; mega-event; tourism;
Other versions of this item:
- Katherine A. Kiel & Victor Matheson & Christopher Sullivan, 2010. "The Effect of Sports Franchises on Property Values: The Role of Owners versus Renters," Working Papers 1007, International Association of Sports Economists & North American Association of Sports Economists.
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
- R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-02 (All new papers)
- NEP-SPO-2010-05-02 (Sports & Economics)
- NEP-URE-2010-05-02 (Urban & Real Estate Economics)
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- Gabriel M. Ahlfeldt & Georgios Kavetsos, 2011.
"Form or Function? The Impact of New Football Stadia on Property Prices in London,"
SERC Discussion Papers
0087, Spatial Economics Research Centre, LSE.
- Ahlfeldt, Gabriel M. & Georgios, Kavetsos, 2010. "Form or Function? The Impact of New Football Stadia on Property Prices in London," MPRA Paper 25003, University Library of Munich, Germany.
- Humphreys, Brad & Zhou, Li, 2013. "Sports Facilities, Agglomeration, and Urban Redevelopment," Working Papers 2013-4, University of Alberta, Department of Economics.
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