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The Impact of Neighborhood Characteristics on House Prices: What Geographic Area Constitutes a Neighborhood?

Author

Listed:
  • Katherine Kiel

    () (Department of Economics, College of the Holy Cross)

  • Jeffrey Zabel

    () (Department of Economics, Tufts University)

Abstract

The concept of neighbourhood has been analyzed in many disciplines but there is little consensus on what constitutes a neighbourhood. The theoretical literature in housing economics suggests that neighbourhood characteristics are important in determining the value of a housing unit. Thus, to obtain accurate estimates of the impact of its components on house prices, it is necessary to include neighborhood indicators but the level of aggregation of these variables is unclear.

Suggested Citation

  • Katherine Kiel & Jeffrey Zabel, 1999. "The Impact of Neighborhood Characteristics on House Prices: What Geographic Area Constitutes a Neighborhood?," Working Papers 9905, College of the Holy Cross, Department of Economics.
  • Handle: RePEc:hcx:wpaper:9905
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    Cited by:

    1. Ioannides, Yannis M. & Seslen, Tracey N., 2002. "Neighborhood wealth distributions," Economics Letters, Elsevier, vol. 76(3), pages 357-367, August.
    2. Luis Galvis & Bladimir Carrillo, 2013. "Índice de precios espacial para la vivienda urbana en Colombia: una aplicación con métodos de emparejamiento," REVISTA DE ECONOMÍA DEL ROSARIO, UNIVERSIDAD DEL ROSARIO, June.
    3. Gonzalez, Fidel & Leipnik, Mark & Mazumder, Diya, 2013. "How much are urban residents in Mexico willing to pay for cleaner air?," Environment and Development Economics, Cambridge University Press, vol. 18(03), pages 354-379, June.
    4. Ioannides, Yannis M., 2004. "Neighborhood income distributions," Journal of Urban Economics, Elsevier, vol. 56(3), pages 435-457, November.
    5. Zabel, Jeffrey E., 2004. "The demand for housing services," Journal of Housing Economics, Elsevier, vol. 13(1), pages 16-35, March.
    6. Downes, Thomas A. & Zabel, Jeffrey E., 2002. "The impact of school characteristics on house prices: Chicago 1987-1991," Journal of Urban Economics, Elsevier, vol. 52(1), pages 1-25, July.

    More about this item

    Keywords

    Environment; housing; neighborhoods; prices;

    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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