Non-linear and weakly monotonic relationship between school quality and house prices

Shishir Mathur

Land Use Policy, 2022, vol. 113, issue C

Abstract: This study provides evidence for a non-linear and weakly monotonic relationship between school quality and house prices. Using Fremont, California, as the study area, the regression analysis shows that homeowners are unwilling to pay a premium for an increase in school quality from low to medium quality. However, they are willing to pay a) a large premium when all schools are top-quality schools and b) a premium for access to nationally-renowned schools, which is in addition to the premium for top-quality schools. These findings have important land use policy significance because they provide new insights into the homeowner’s residential location choice and highlight the need to consider school quality in a jurisdiction’s land use and zoning decisions.

Keywords: Land use policy; School quality; Spatial hedonic regression; Housing; Urban economics (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:lauspo:v:113:y:2022:i:c:s0264837721006451

DOI: 10.1016/j.landusepol.2021.105922

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