Mega-Events and Housing Costs: Raising the Rent while Raising the Roof?

Dennis Coates () and Victor Matheson ()

No 902, Working Papers from International Association of Sports Economists

Abstract: This paper examines the relationship between hosting mega-events such as the Super Bowl, Olympics, and World Cup and rental housing prices in host cities. If mega-events are amenities for local residents, then rental housing prices can serve as a proxy for estimating residents’ willingness to pay for these amenities. An analysis of rental prices in a panel of American cities from 1993-2005 fails to find a consistent impact of mega-events on rental prices. When controls are placed on the regression models to account for nationwide annual fluctuations in rental prices, mega-events generally exhibit little impact on rental prices in cities as a whole and are as likely to reduce rental prices as increase them. Somewhat stronger evidence exists, however, that mega-events affect rental prices outside of the center city in a fundamentally different manner than in the city core.

Keywords: sports; stadiums; franchises; impact analysis; mega-event; housing (search for similar items in EconPapers)
JEL-codes: L83 O18 R53 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-geo, nep-spo, nep-tur and nep-ure
Date: 2009-02
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http://www.holycross.edu/departments/economics/ReP ... n_MegaEventRents.pdf (application/pdf)

Related works:
Working Paper: Mega-Events and Housing Costs: Raising the Rent while Raising the Roof? (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:spe:wpaper:0902

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