Neighborhood Historic Preservation Status and Housing Values in Oklahoma County, Oklahoma
Using county tax assessor data, this paper estimates the property value impacts of his-toric designation of neighborhoods for Oklahoma County, Oklahoma. Methodological contri-butions of the study include allowing for spatial and temporal variation of hedonic prices and historic district property values along with the use of finely-delineated spatial fixed effects. Neighborhood historic designation is found to be associated with significant relative apprecia-tion of housing values in most districts. Factors appearing to influence the rate of appreciation are the time span of neighborhood historic designation and the area crime rate. The variation in results across historic neighborhoods suggests that policy makers need to take into account the conditions under which historic designation most likely can succeed.
Volume (Year): 39 (2009)
Issue (Month): 2 ()
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- Donald A. Coffin, 1989. "The Impact of Historical Districts on Residential Property Values," Eastern Economic Journal, Eastern Economic Association, vol. 15(3), pages 221-228, Jul-Sep.
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- Douglas S. Noonan, 2007. "Finding an Impact of Preservation Policies: Price Effects of Historic Landmarks on Attached Homes in Chicago, 1990-1999," Economic Development Quarterly, , vol. 21(1), pages 17-33, February.
- Philippe Cyrenne & Robert Fenton & Joseph Warbanski, 2006. "Historic Buildings and Rehabilitation Expenditures: A Panel Data Approach," Journal of Real Estate Research, American Real Estate Society, vol. 28(4), pages 349-380.
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