How Does a New Sports Stadium Affect Housing Values? The Case of FedEx Field
This study investigates how the construction of a sports stadium affects residential housing values. Hedonic analyses are conducted to assess the price differentials between housing units in close proximity to FedEx Field (home of the Washington Redskins) and comparable units away from it. Using a difference-in-difference approach, the study finds that properties near FedEx Field sold at a discount; however, this price differential was narrowed after the completion of the stadium. Contrary to neighborhood activists’ concern that sports venues adversely affect property values, the findings of this study indicate that a new stadium improves housing values in the surrounding area.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Colwell, Peter F & Sirmans, C F, 1993. "A Comment on Zoning, Returns to Scale, and the Value of Undeveloped Land," The Review of Economics and Statistics, MIT Press, vol. 75(4), pages 783-86, November.
- David E. Clark, 2000. "The Impact of Public School Attributes on Home Sale Prices in California," Growth and Change, Wiley Blackwell, vol. 31(3), pages 385-407.
- Randall S. Guttery, 2002. "The Effects of Subdivision Design on Housing Values: The Case of Alleyways," Journal of Real Estate Research, American Real Estate Society, vol. 23(3), pages 265-274.
- 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.
- Henry J. Munneke & Barrett A. Slade, 2001. "A Metropolitan Transaction-Based Commercial Price Index: A Time-Varying Parameter Approach," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 29(1), pages 55-84.
- Peter F. Colwell & Carolyn A. Dehring & Nicholas A. Lash, 2000. "The Effect of Group Homes on Neighborhood Property Values," Land Economics, University of Wisconsin Press, vol. 76(4), pages 615-637.
- Roger E. Cannaday & Mark A. Sunderman, 1986. "Estimation of Depreciation for Single-Family Appraisals," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(2), pages 255-273.
- George Galster & Peter Tatian & Kathryn Pettit, 2004. "Supportive Housing and Neighborhood Property Value Externalities," Land Economics, University of Wisconsin Press, vol. 80(1), pages 33-54.
- Mills, Edwin S. & Simenauer, Ronald, 1996. "New Hedonic Estimates of Regional Constant Quality House Prices," Journal of Urban Economics, Elsevier, vol. 39(2), pages 209-215, March.
- Can, Ayse & Megbolugbe, Isaac, 1997. "Spatial Dependence and House Price Index Construction," The Journal of Real Estate Finance and Economics, Springer, vol. 14(1-2), pages 203-22, Jan.-Marc.
- John M. Clapp & Carmelo Giaccotto & Dogan Tirtiroglu, 1991. "Housing Price Indices Based on All Transactions Compared to Repeat Subsamples," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 19(3), pages 270-285.
- Halvorsen, Robert & Palmquist, Raymond, 1980. "The Interpretation of Dummy Variables in Semilogarithmic Equations," American Economic Review, American Economic Association, vol. 70(3), pages 474-75, June.
When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:81:y:2005:i:3:p379-395. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.