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Do home buyers value the New Urbanist neighborhood? The case of Issaquah Highlands, WA

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  • Jinyhup Kim
  • Chang-Hee Christine Bae

Abstract

This study compares Issaquah Highlands’ home prices with those of traditional suburban single-family homes in the city of Issaquah. Issaquah Highlands is a community that was developed using New Urbanism principles. The null hypothesis is that the sale prices of houses in Issaquah Highlands are not different from the conventional suburban neighborhood in the city of Issaquah. The principal database consists of US Census Washington State Geospatial Data Archive, and the King County Tax Assessments. The final dataset contains 1,780 single family homes over the seven-year period from 2012 to 2018 based on sale records throughout the city of Issaquah. This study uses the hedonic pricing technique to assess the impact of New Urbanism on the value of single-family residences. The findings suggest that people are willing to pay a $92,700–96,800 premium (approximately 7.1–12.0 percent of the sales prices) for houses in Issaquah Highlands.

Suggested Citation

  • Jinyhup Kim & Chang-Hee Christine Bae, 2020. "Do home buyers value the New Urbanist neighborhood? The case of Issaquah Highlands, WA," Journal of Urbanism: International Research on Placemaking and Urban Sustainability, Taylor & Francis Journals, vol. 13(3), pages 303-324, July.
    • Handle: RePEc:taf:rjouxx:v:13:y:2020:i:3:p:303-324
    DOI: 10.1080/17549175.2020.1726800
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    Cited by:

    1. Nilsson, Isabelle & Delmelle, Elizabeth C., 2023. "Smart growth as a luxury amenity? Exploring the relationship between the marketing of smart growth characteristics and neighborhood racial and income change," Journal of Transport Geography, Elsevier, vol. 106(C).

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