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The Effect of Sports Franchises on Property Values: The Role of Owners versus Renters

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Author Info

  • Katherine A. Kiel

    ()
    (Department of Economics, College of the Holy Cross)

  • Victor Matheson

    ()
    (Department of Economics, College of the Holy Cross)

  • Christopher Sullivan

    (Boston College)

Abstract

This 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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File URL: http://college.holycross.edu/RePEc/hcx/Kiel-Matheson_NFLStadiums.pdf
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Bibliographic Info

Paper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 1001.

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Length: 21 pages
Date of creation: Apr 2010
Date of revision:
Handle: RePEc:hcx:wpaper:1001

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Web page: http://www.holycross.edu/departments/economics/website/
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Related research

Keywords: impact analysis; stadiums; football; mega-event; tourism;

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Cited by:
  1. 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.
  2. 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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