IDEAS home Printed from https://ideas.repec.org/a/taf/transp/v47y2024i1p27-41.html
   My bibliography  Save this article

Train stations and house prices: a local perspective

Author

Listed:
  • Changro Lee

Abstract

Opening a new train station is considered a way to generate amenity in a neighborhood. However, as train lines extend from a central city to suburbs and remote places, train stations may generate disamenity depending on the local context. This study examines the externality of stations from a house valuation perspective. A mixed-effects model is employed to capture the varying relationship between house prices and distance to a nearby station. The results show that this relationship significantly varies by county, which leads to a house price premium in some counties and price discount in others. This study attributes the price discount (disamenity) to low ridership, seasonality of ridership, passenger traits, and long distance from a central city. The study results are expected to provide policymakers with balanced insights on establishing a new station so that train stations can serve as a local amenity, not a harmful facility in the neighborhood.

Suggested Citation

  • Changro Lee, 2024. "Train stations and house prices: a local perspective," Transportation Planning and Technology, Taylor & Francis Journals, vol. 47(1), pages 27-41, January.
  • Handle: RePEc:taf:transp:v:47:y:2024:i:1:p:27-41
    DOI: 10.1080/03081060.2023.2252397
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/03081060.2023.2252397
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/03081060.2023.2252397?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:transp:v:47:y:2024:i:1:p:27-41. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/GTPT20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.