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Urban decline and residential preference: The effect of vacant lots on housing premiums

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  • Youngre Noh
  • Galen Newman
  • Ryun Jung Lee

Abstract

Vacant land is a ubiquitous urban phenomenon. The existence of vacant land in a neighborhood can either lower or heighten nearby housing values, depending on its relative development potential. However, this condition has rarely been examined longitudinally, nor has it been examined thoroughly across different socioeconomic conditions. This research examines the impact of vacant lots on housing premiums using 2006–2015 single-family home sale transactions in the City of Minneapolis, Minnesota. The study area was divided into low-, middle-, and high-income levels. The results show that vacant lands have negative impacts on nearby single-family houses and these impacts differ by income level per neighborhood. The study sheds light on how planners and researchers should conceive vacant lands differently in various surroundings and conditions.

Suggested Citation

  • Youngre Noh & Galen Newman & Ryun Jung Lee, 2021. "Urban decline and residential preference: The effect of vacant lots on housing premiums," Environment and Planning B, , vol. 48(6), pages 1667-1683, July.
    • Handle: RePEc:sae:envirb:v:48:y:2021:i:6:p:1667-1683
    DOI: 10.1177/2399808320933906
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    References listed on IDEAS

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