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Panel data estimates of the effects of different types of crime on housing prices

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  • Ihlanfeldt, Keith
  • Mayock, Tom

Abstract

One of the most studied effects of crime is the impact that neighborhood crime has on housing values. A major drawback of these studies is that, although crime is undoubtedly endogenous in property value models because of either simultaneity, omitted variables or measurement error, the vast majority of studies treat crime measures as exogenous independent variables. We exploit a unique nine-year crime panel at the neighborhood level to estimate models that properly address the endogeneity of crime and allow us to overcome other specification errors that have plagued previous studies. Of the seven different types of crime we investigate, only robbery and aggravated assault crimes (per acre) exert a meaningful influence upon neighborhood housing values.

Suggested Citation

  • Ihlanfeldt, Keith & Mayock, Tom, 2010. "Panel data estimates of the effects of different types of crime on housing prices," Regional Science and Urban Economics, Elsevier, vol. 40(2-3), pages 161-172, May.
  • Handle: RePEc:eee:regeco:v:40:y:2010:i:2-3:p:161-172
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    References listed on IDEAS

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    1. Pope, Carl E., 1980. "Patterns in burglary: An empirical examination of offense and offender characteristics," Journal of Criminal Justice, Elsevier, vol. 8(1), pages 39-51.
    2. Steve Gibbons, 2004. "The Costs of Urban Property Crime," Economic Journal, Royal Economic Society, vol. 114(499), pages 441-463, November.
    3. Isaac Ehrlich, 1996. "Crime, Punishment, and the Market for Offenses," Journal of Economic Perspectives, American Economic Association, vol. 10(1), pages 43-67, Winter.
    4. Bowes, David R. & Ihlanfeldt, Keith R., 2001. "Identifying the Impacts of Rail Transit Stations on Residential Property Values," Journal of Urban Economics, Elsevier, vol. 50(1), pages 1-25, July.
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    Citations

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    Cited by:

    1. Karolien De Bruyne & Jan Van Hove, 2013. "Explaining the spatial variation in housing prices: an economic geography approach," Applied Economics, Taylor & Francis Journals, vol. 45(13), pages 1673-1689, May.
    2. James Alm & Keith Finlay, 2013. "Who Benefits from Tax Evasion?," Economic Analysis and Policy, Elsevier, vol. 43(2), pages 139-154, September.
    3. Bayar, Mehmet, 2016. "The impact of cultural diversity on the German housing market," Ruhr Economic Papers 662, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    4. Georgia Perks & Shiko Maruyama, 2016. "The "Flock" Phenomenon of the Sydney Lockout Laws: Dual Effects on Rental Prices," Working Paper Series 38, Economics Discipline Group, UTS Business School, University of Technology, Sydney.
    5. Nichols, Joseph B. & Oliner, Stephen D. & Mulhall, Michael R., 2013. "Swings in commercial and residential land prices in the United States," Journal of Urban Economics, Elsevier, vol. 73(1), pages 57-76.
    6. Aliprantis, Dionissi & Hartley, Daniel, 2015. "Blowing it up and knocking it down: The local and city-wide effects of demolishing high concentration public housing on crime," Journal of Urban Economics, Elsevier, vol. 88(C), pages 67-81.
    7. Anastasia Klimova & Adrian D. Lee, 2014. "Does a Nearby Murder Affect Housing Prices and Rents? The Case of Sydney," The Economic Record, The Economic Society of Australia, vol. 90, pages 16-40, June.
    8. Adriana Villamarin Garcia, 2011. "Prevenir y calcular una estimacion de los costos de la violencia homicida en Colombia," DOCUMENTOS DE CERAC 009108, CERAC -CENTRO DE RECURSOS PARA EL ANÁLISIS DE CONFLICTOS-.
    9. Arbel, Yuval & Ben-Shahar, Danny & Gabriel, Stuart & Tobol, Yossef, 2010. "The local cost of terror: Effects of the second Palestinian Intifada on Jerusalem house prices," Regional Science and Urban Economics, Elsevier, vol. 40(6), pages 415-426, November.
    10. Zhang, Zhaohua & Hite, Diane, 2015. "House Value, Crime and Residential Location Choice," 2015 Annual Meeting, January 31-February 3, 2015, Atlanta, Georgia 196826, Southern Agricultural Economics Association.
    11. Adriana Villamarín García, 2011. "Prevenir y calcular: una estimación de los costos de la violencia homicida en Colombia," VNIVERSITAS ECONÓMICA 008873, UNIVERSIDAD JAVERIANA - BOGOTÁ.
    12. repec:eee:touman:v:60:y:2017:i:c:p:257-269 is not listed on IDEAS
    13. Juan Tomas Sayago-Gomez & Adam Nowak, 2016. "What is Near and Recent in Crime for a Homeowner? The Cases of Denver and Seattle," Working Papers Working Paper 2016-01, Regional Research Institute, West Virginia University.
    14. Keith Ihlanfeldt & Tom Mayock, 2016. "The Impact of REO Sales on Neighborhoods and Their Residents," The Journal of Real Estate Finance and Economics, Springer, vol. 53(3), pages 282-324, October.
    15. Taggert J. Brooks & Brad R. Humphreys & Adam Nowak, 2016. "Strip Clubs, “Secondary Effects,†and Residential Property Prices," Working Papers 16-17, Department of Economics, West Virginia University.
    16. repec:eee:juecon:v:100:y:2017:i:c:p:1-18 is not listed on IDEAS

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