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The Effect of Historic District Designation on Single‐Family Home Prices

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  • Deborah Ann Ford

Abstract

The designation and regulation of local historic districts in Baltimore, Maryland started in 1964. Structures within these districts are required to maintain exteriors in the style of the historical significance of the neighborhoods. Prior studies in other cities have shown that the designation did not always lead to an increase in restoration activities in these areas. This paper analyzes the effect of the designation on transaction prices and finds historic districts do have higher prices than identical non‐historic districts.

Suggested Citation

  • Deborah Ann Ford, 1989. "The Effect of Historic District Designation on Single‐Family Home Prices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 17(3), pages 353-362, September.
    • Handle: RePEc:bla:reesec:v:17:y:1989:i:3:p:353-362
    DOI: 10.1111/1540-6229.00496
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    References listed on IDEAS

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    Cited by:

    1. Gabriel Ahlfeldt & Kristoffer Möller & Sevrin Waights & Nicolai Wendland, 2012. "On prisoner's dilemmas and gilded cages: The economics of heritage preservation," ERSA conference papers ersa12p783, European Regional Science Association.
    2. repec:rre:publsh:v:39:y:2009:i:1:p:9-22 is not listed on IDEAS
    3. Been, Vicki & Ellen, Ingrid Gould & Gedal, Michael & Glaeser, Edward & McCabe, Brian J., 2016. "Preserving history or restricting development? The heterogeneous effects of historic districts on local housing markets in New York City," Journal of Urban Economics, Elsevier, vol. 92(C), pages 16-30.
    4. Velma Zahirovic-Herbert & Karen Gibler, 2014. "Historic District Influence on House Prices and Marketing Duration," The Journal of Real Estate Finance and Economics, Springer, vol. 48(1), pages 112-131, January.
    5. Faroek Lazrak & Peter Nijkamp & Piet Rietveld & Jan Rouwendal, 2014. "The market value of cultural heritage in urban areas: an application of spatial hedonic pricing," Journal of Geographical Systems, Springer, vol. 16(1), pages 89-114, January.
    6. Rosato, Paolo & Rotaris, Lucia & Breil, Margaretha & Zanatta, Valentina, 2008. "Do We Care about Built Cultural Heritage? The Empirical Evidence Based on the Veneto House Market," Sustainability Indicators and Environmental Valuation Working Papers 42917, Fondazione Eni Enrico Mattei (FEEM).
    7. Angjellari-Dajci, Fiorentina & Cebula, Richard, 2014. "Applying the Hedonic Pricing Model to the Prices of Single-Family Homes in the Oldest U.S. City, St. Augustine, Florida, Testing Whether Property Taxes Are Capitalized into Housing Prices," MPRA Paper 55587, University Library of Munich, Germany.
    8. Velma Zahirovic-Herbert & Swarn Chatterjee, 2012. "Historic Preservation and Residential Property Values: Evidence from Quantile Regression," Urban Studies, Urban Studies Journal Limited, vol. 49(2), pages 369-382, February.
    9. repec:jpe:journl:222 is not listed on IDEAS
    10. Zhou, Yang, 2021. "The political economy of historic districts: The private, the public, and the collective," Regional Science and Urban Economics, Elsevier, vol. 86(C).
    11. Cebula, Richard & Foley, Maggie & Houmes, Robert, 2010. "Property Tax Capitalization within a National Historic District versus Property Tax Capitalization outside that National Historic District: Another Application of the Tiebout Hypothesis," MPRA Paper 60008, University Library of Munich, Germany.
    12. Eric Thompson & David Rosenbaum & Benjamin Schmitz, 2011. "Property values on the plains: the impact of historic preservation," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 47(2), pages 477-491, October.
    13. Andrew Narwold & Jonathan Sandy & Charles Tu, 2008. "Historic Designation and Residential Property Values," International Real Estate Review, Global Social Science Institute, vol. 11(1), pages 83-95.
    14. Jordan Lopez & Yang Zhou & Joshua C. Hall, 2026. "The Collective Action Problems of Historic Designation: A Complexity Index for One Hundred Cities in the United States," American Journal of Economics and Sociology, Wiley Blackwell, vol. 85(1), pages 33-48, January.
    15. Lazrak, F. & Nijkamp, P. & Rietveld, P. & Rouwendal, J., 2009. "Cultural heritage and creative cities: an economic evaluation perspective," Serie Research Memoranda 0036, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    16. Lazrak, F. & Nijkamp, P. & Rietveld, P. & Rouwendal, J., 2009. "Cultural heritage: hedonic prices for non-market values," Serie Research Memoranda 0049, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    17. Rickman, Dan S., 2009. "Neighborhood Historic Preservation Status and Housing Values in Oklahoma County, Oklahoma," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 39(2), pages 1-10.
    18. Douglas S. Noonan, 2013. "Market effects of historic preservation," Chapters, in: Ilde Rizzo & Anna Mignosa (ed.), Handbook on the Economics of Cultural Heritage, chapter 17, pages i-i, Edward Elgar Publishing.
    19. N. Edward Coulson & Michael L. Lahr, 2005. "Gracing the Land of Elvis and Beale Street: Historic Designation and Property Values in Memphis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 33(3), pages 487-507, September.
    20. Robin M. Leichenko & N. Edward Coulson & David Listokin, 2001. "Historic Preservation and Residential Property Values: An Analysis of Texas Cities," Urban Studies, Urban Studies Journal Limited, vol. 38(11), pages 1973-1987, October.
    21. Coulson, N Edward & Leichenko, Robin M, 2001. "The Internal and External Impact of Historical Designation on Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 23(1), pages 113-124, July.
    22. Christopher Coombs & Nikias Sarafoglou & William Crosby, 2012. "Property Taxation, Capitalization, and the Economic Implications of Raising Property Taxes," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 18(2), pages 151-161, May.
    23. repec:ecr:col031:4979 is not listed on IDEAS
    24. Daniel Shefer & Eyal Salinger, 2011. "Modeling the Decision to Conserve and the Economic Value of Conservation - The Case of the White City of Tel Aviv," ERSA conference papers ersa10p852, European Regional Science Association.
    25. Vicki Been & Ingrid Gould Ellen & Michael Gedal & Edward Glaeser & Brian J. McCabe, 2014. "Preserving History or Hindering Growth? The Heterogeneous Effects of Historic Districts on Local Housing Markets in New York City," NBER Working Papers 20446, National Bureau of Economic Research, Inc.

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