Geographical Heterogeneity in Homeownership Rates: Does the Differential between Rent and Ownership Cost Explain Local Variation in Homeownership Rates?

Satoshi Tsukamoto

No 91269, Graduate Research Master's Degree Plan B Papers from Michigan State University, Department of Agricultural, Food, and Resource Economics

Abstract: This paper focuses on differentials between rental and owner costs as a primary determinant of local homeownership. In simultaneous equations to estimate the separate effects of owner cost and rent on homeownership rates, the control variables are various household and geographical factors (Census 2000 tract level dataset), in the samples of 48 contiguous states within the United States. The results show negative effects of rental and owner costs on homeownership rates. Ethnicity, income, age, property tax rate and loan usage rates, contribute to increased owner costs. Several factors had significant association with the rise in housing prices before 2006.

Keywords: Community/Rural/Urban Development; Consumer/Household Economics; Public Economics (search for similar items in EconPapers)
Pages: 68
Date: 2010
New Economics Papers: this item is included in nep-geo, nep-pbe and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:ags:midagr:91269

DOI: 10.22004/ag.econ.91269

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