House prices and the evaluation of local amenities

Marco Colleoni

No vxr96, SocArXiv from Center for Open Science

Abstract: Our aim is to estimate how local amenities, for example availability of schools or restaurants, and in general the level of happiness of a neighbourhood, affect the housing market. We consider the city of Phoenix, AZ, for which we hold housing transaction data. Our observation unit is the census tract. After having located schools, restaurants and Tweets in order to gain the average mood of the neighbourhood, we add a set of controls to our empirical estimation. We find a strong positive correlation of transaction prices with the average income of a district, as well as a negative correlation with the rate of violent crime.

Date: 2018-02-28
New Economics Papers: this item is included in nep-hap and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:vxr96

DOI: 10.31219/osf.io/vxr96

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