Advanced Search
MyIDEAS: Login

The Impact of Stadium Announcements on Residential Property Values: Evidence from a Natural Experiment in Dallas-Fort Worth

Contents:

Author Info

  • Craig A. Depken

    ()
    (Department of Economics, University of Texas at Arlington)

  • Michael R. Ward

    ()
    (Department of Economics, University of Texas at Arlington)

  • Carolyn A. Dehring

    ()
    (Department of Insurance, Legal Studies and Real Estate, The University of Georgia)

Abstract

We investigate the impact of a potential new sports venue on residential property values, focusing on the National Football League's Dallas Cowboys' search for a new host city in the Dallas-Fort Worth area. We ¯nd that residential property values in the city of Dallas increased following the announcement of a possible new stadium in the city of Dallas. At the same time, property val- ues fell throughout the rest of Dallas County, which would have paid for the proposed stadium. These patterns reversed when the Dallas stadium proposal was abandoned. Subsequently, a series of announcements regarding a new publicly-subsidized stadium in nearby Arlington, Texas, had a deleterious effect on residential property values in Arlington. In aggregate, average property values declined approximately 1.5% relative to the surrounding area before stadium construction com- menced. This decline was almost equal to the anticipated household sales tax burden, suggesting that the average expected amenity e®ect of hosting the Cowboys in Arlington was not signi¯cantly different from zero.

Download Info

If 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.
File URL: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=993250
Our checks indicate that this address may not be valid because: 503 Service Unavailable. If this is indeed the case, please notify (Shushanik Papanyan)
Download Restriction: no

Bibliographic Info

Paper provided by University of Texas at Arlington, Department of Economics in its series Working Papers with number 0602.

as in new window
Length: 23 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:txa:wpaper:0602

Contact details of provider:
Postal: 309 Business Bldg., Box 19479, Arlington, Tx 76013
Phone: (817) 272-3061
Fax: (817) 272-3145
Web page: http://economics.uta.edu/
More information through EDIRC

Related research

Keywords: economic impact; event studies; sports; property values; stadiums;

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Carlino, Gerald & Coulson, N. Edward, 2004. "Compensating differentials and the social benefits of the NFL," Journal of Urban Economics, Elsevier, vol. 56(1), pages 25-50, July.
  2. Man, Joyce Y. & Bell, Michael E., 1996. "The Impact of Local Sales Tax on the Value of Owner-Occupied Housing," Journal of Urban Economics, Elsevier, vol. 39(1), pages 114-131, January.
  3. Coates, Dennis & Humphreys, Brad R. & Zimbalist, Andrew, 2006. "Compensating differentials and the social benefits of the NFL: A comment," Journal of Urban Economics, Elsevier, vol. 60(1), pages 124-131, July.
  4. Cassel, Eric & Mendelsohn, Robert, 1985. "The choice of functional forms for hedonic price equations: Comment," Journal of Urban Economics, Elsevier, vol. 18(2), pages 135-142, September.
  5. A. Craig MacKinlay, 1997. "Event Studies in Economics and Finance," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 13-39, March.
  6. Jordan Rappaport & Chad Wilkerson, 2001. "What are the benefits of hosting a major league sports franchise?," Economic Review, Federal Reserve Bank of Kansas City, issue Q I, pages 55-86.
  7. Elena G. Irwin, 2002. "The Effects of Open Space on Residential Property Values," Land Economics, University of Wisconsin Press, vol. 78(4), pages 465-480.
  8. Carolyn Dehring & Neil Dunse, 2006. "Housing Density and the Effect of Proximity to Public Open Space in Aberdeen, Scotland," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 34(4), pages 553-566, December.
  9. Lansford, Notie H., Jr. & Jones, Lonnie L., 1995. "Marginal Price Of Lake Recreation And Aesthetics: An Hedonic Approach," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
  10. Carlino, Gerald & Coulson, N. Edward, 2006. "Compensating differentials and the social benefit of the NFL: Reply," Journal of Urban Economics, Elsevier, vol. 60(1), pages 132-138, July.
  11. Espey, Molly & Owusu-Edusei, Kwame, 2001. "Neighborhood Parks And Residential Property Values In Greenville, South Carolina," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 33(03), December.
  12. John J. Siegfried & Andrew Zimbalist, 2000. "The Economics of Sports Facilities and Their Communities," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 95-114, Summer.
  13. Peter F. Colwell & Carolyn A. Dehring & Nicholas A. Lash, 2000. "The Effect of Group Homes on Neighborhood Property Values," Land Economics, University of Wisconsin Press, vol. 76(4), pages 615-637.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Immergluck, Dan, 2007. "Large-Scale Redevelopment Initiatives and Home Values: The Case of the Atlanta Beltline Project," MPRA Paper 8613, University Library of Munich, Germany.
  2. 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.
  3. Ahlfeldt, Gabriel M., 2008. "If Alonso was Right: Residual Land Price, Accessibility and Urban Attraction," MPRA Paper 11707, University Library of Munich, Germany.
  4. Gabriel M. Ahlfeldt, 2010. "Architektur, Ökonomie - Architekturökonomie," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 11(4), pages 340-355, November.
  5. Huang, Haifang & Humphreys, Brad, 2012. "Do New Sports Facilities Revitalize Urban Neighborhoods? Evidence from Residential Mortgage Applications," Working Papers 2012-5, University of Alberta, Department of Economics.
  6. Humphreys, Brad & Zhou, Li, 2013. "Sports Facilities, Agglomeration, and Urban Redevelopment," Working Papers 2013-4, University of Alberta, Department of Economics.
  7. Xia Feng & Brad R. Humphreys, 2008. "Assessing the Economic Impact of Sports Facilities on Residential Property Values: A Spatial Hedonic Approach," Working Papers 0812, International Association of Sports Economists & North American Association of Sports Economists.
  8. Gabriel Ahlfeldt & Wolfgang Maennig & Michaela Ölschläger, 2009. "Lifestyles and Preferences for (Public) Goods: Professional Football in Munich," Working Papers 030, Chair for Economic Policy, University of Hamburg.
  9. Karen Fierro & Thomas Fullerton & K. Donjuan-Callejo, 2009. "Housing Attribute Preferences in a Northern Mexico Metropolitan Economy," Atlantic Economic Journal, International Atlantic Economic Society, vol. 37(2), pages 159-172, June.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:txa:wpaper:0602. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shushanik Papanyan) The email address of this maintainer does not seem to be valid anymore. Please ask Shushanik Papanyan to update the entry or send us the correct address.

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.