The Impact of Abandoned Properties on Nearby Property Values

Hye-Sung Han

Housing Policy Debate, 2014, vol. 24, issue 2, 311-334

Abstract: Previous research has shown that housing abandonment contributes to neighborhood decline by depressing nearby property values. However, most past research estimated the impact of abandonment through cross-sectional analysis without controlling for nearby foreclosures or local housing market trends. Therefore, it remains unclear whether abandoned properties reduce nearby property values or whether abandonment is more common in areas with already lower-valued properties. Prior research also has not explored how the duration of abandonment influences nearby property values. Therefore, to extend the current level of understanding of the impact of abandonment, this research examines the impact of abandoned properties on nearby property values in Baltimore, Maryland, from 1991 to 2010 using longitudinal data sets while simultaneously controlling for both nearby foreclosures and local housing market trends. This research finds that as properties are abandoned for longer periods of time, the impact on nearby property values not only increases in magnitude but also is seen increasingly farther away.

Date: 2014
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Citations: View citations in EconPapers (17)

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DOI: 10.1080/10511482.2013.832350

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