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The Impact of Transit Corridors on Residential Property Values

Author

Listed:
  • John A. Kilpatrick

    () (Greenfield Advisors LLC, Seattle, Washington 98121)

  • Ronald C. Throupe

    () (Greenfield Advisors LLC, Seattle, Washington 98121)

  • John I. Carruthers

    () (U.S. Department of Housing and Urban Development, Office of Policy Development and Research)

  • Andrew Krause

    () (Greenfield Advisors LLC, Seattle, Washington 98121)

Abstract

Most of the literature on transit corridors, such as superhighways and tunnels, focuses on the positive externality of transit access (e.g., interstate access, transit station) and fails to isolate the negative externality of the corridor itself. This empirical study examines two situations: one with both access benefits and negatives, and another without the access benefit. The findings reveal that proximity to the transit corridor alone without direct access conveys a negative impact on nearby housing values.

Suggested Citation

  • John A. Kilpatrick & Ronald C. Throupe & John I. Carruthers & Andrew Krause, 2007. "The Impact of Transit Corridors on Residential Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 29(3), pages 303-320.
  • Handle: RePEc:jre:issued:v:29:n:3:2007:p:303-320
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    References listed on IDEAS

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    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.
    5. Michael T. Bond & Vicky L. Seiler & Michael J. Seiler, 2002. "Residential Real Estate Prices: A Room with a View," Journal of Real Estate Research, American Real Estate Society, vol. 23(1/2), pages 129-138.
    6. McDonald, John F. & Osuji, Clifford I., 1995. "The effect of anticipated transportation improvement on residential land values," Regional Science and Urban Economics, Elsevier, vol. 25(3), pages 261-278, June.
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    Cited by:

    1. Stephen Conroy & Jennifer Milosch, 2011. "An Estimation of the Coastal Premium for Residential Housing Prices in San Diego County," The Journal of Real Estate Finance and Economics, Springer, vol. 42(2), pages 211-228, February.
    2. Vivek Sah & Stephen J. Conroy & Andrew Narwold, 2016. "Estimating School Proximity Effects on Housing Prices: the Importance of Robust Spatial Controls in Hedonic Estimations," The Journal of Real Estate Finance and Economics, Springer, vol. 53(1), pages 50-76, July.
    3. Julio Fernando Ortiz Ramírez & Daniel Vasquez Cotera, 2012. "Acceso a la movilidad en corredores urbanos y su impacto en el precio de la propiedad residencial: El caso de la avenida Díaz Mirón en Veracruz," Revista Observatorio Calasanz, Universidad Cristobal Colon, Dpto. de Investigacion y Posgrado, vol. 3(6), pages .326-351, Febrero.
    4. Kim, Taeyoung & Cho, Seong-Hoon & Larson, Eric R. & Armsworth, Paul R., 2014. "Protected area acquisition costs show economies of scale with area," Ecological Economics, Elsevier, vol. 107(C), pages 122-132.
    5. García Castro, David & Elizagarate Gutiérrez, Victoria & Letamendia Galdós, Iñaki & Kazak, Jan, 2014. "Hiriguneko garraio publiko sistemaren eragina hirien bizi kalitatearen hautematean. City marketinaren ikuspuntutik hausnarketa," Revista de Dirección y Administración de Empresas, Universidad del País Vasco - Escuela Universitaria de Estudios Empresariales de San Sebastián.
    6. Ekaterina Chernobai & Michael Reibel & Michael Carney, 2011. "Nonlinear Spatial and Temporal Effects of Highway Construction on House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 42(3), pages 348-370, April.
    7. Billings, Stephen B., 2011. "Estimating the value of a new transit option," Regional Science and Urban Economics, Elsevier, vol. 41(6), pages 525-536.
    8. Turnquist, Alan & Fortenbery, T. Randall & Foltz, Jeremy D., 2008. "Progress or Devastation? The Effects of Ethanol Plant Location on Local Land Use," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6125, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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