Housing demand and community choice: an empirical analysis

Carol Rapaport

No 16, Staff Reports from Federal Reserve Bank of New York

Abstract: Housing demand reflects the household's simultaneous choice of neighborhood, whether to own or rent the dwelling, and the quantity of housing services demanded. Existing literature emphasizes the final two factors, but overlooks the choice of community. This paper develops an econometric model that incorporates all three components, and then estimates this model using a sample of households in Tampa, Florida. Incorporating community choice increases the price elasticity of demand and reduces the differential between white and comparable nonwhite households. The results are robust to the inclusion of permanent income and taxes.

Keywords: neighborhoods; forecasting; Florida; housing (search for similar items in EconPapers)
JEL-codes: R21 (search for similar items in EconPapers)
Pages: 33 pages
Date: 1996
Note: For a published version of this report, see Carol Rapaport, "Housing Demand and Community Choice: An Empirical Analysis," Journal of Urban Economics 42, no. 2 (September 1997): 243-61.
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr16.pdf (application/pdf)
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr16.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fednsr:16

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Staff Reports from Federal Reserve Bank of New York Contact information at EDIRC.
Bibliographic data for series maintained by Gabriella Bucciarelli ().