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Zoning Policy Changes and the Urban Fringe Land Market

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  • James A. Thorson

Abstract

This paper examines the effect of a zoning change on the land market in McHenry County, Illinois. One question addressed is whether zoning "follows the market." It is found that, for agricultural land, zoning does tend to follow the market. In addition, the effect of land prices on land use is examined. The results here, however, are mixed. In the initial years after the zoning change, a high relative price of residential land increases the probability that a parcel will be zoned residential. However, several years later, a high relative price of residential land decreases the probability that a parcel is zoned residential. This result suggests that it may take some time for a zoning change to have a significant impact on the local land market. Copyright American Real Estate and Urban Economics Association.

Suggested Citation

  • James A. Thorson, 1994. "Zoning Policy Changes and the Urban Fringe Land Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 22(3), pages 527-538.
  • Handle: RePEc:bla:reesec:v:22:y:1994:i:3:p:527-538
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    Cited by:

    1. Mayer, Christopher J. & Somerville, C. Tsuriel, 2000. "Land use regulation and new construction," Regional Science and Urban Economics, Elsevier, vol. 30(6), pages 639-662, December.
    2. Olivier Chanel & Laurence Delattre & Claude Napoléone, 2014. "Determinants of Local Public Policies for Farmland Preservation and Urban Expansion: A French Illustration," Land Economics, University of Wisconsin Press, vol. 90(3), pages 411-433.
    3. Jackson, Kristoffer, 2016. "Do land use regulations stifle residential development? Evidence from California cities," Journal of Urban Economics, Elsevier, vol. 91(C), pages 45-56.
    4. John Clapp & Mauricio Rodriguez, 1998. "Using a GIS for Real Estate Market Analysis: The Problem of Spatially Aggregated Data," Journal of Real Estate Research, American Real Estate Society, vol. 16(1), pages 35-56.
    5. Fu, Yuming & Somerville, C. Tsuriel, 2001. "Site Density Restrictions: Measurement and Empirical Analysis," Journal of Urban Economics, Elsevier, vol. 49(2), pages 404-423, March.
    6. Li Peng & Tiantian Chen & Shaoquan Liu, 2016. "Spatiotemporal Dynamics and Drivers of Farmland Changes in Panxi Mountainous Region, China," Sustainability, MDPI, Open Access Journal, vol. 8(11), pages 1-17, November.
    7. Jonathan Levine & Lawrence Frank, 2007. "Transportation and land-use preferences and residents’ neighborhood choices: the sufficiency of compact development in the Atlanta region," Transportation, Springer, vol. 34(2), pages 255-274, March.

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