Accessibility and Residential Land Values: Some Tests with New Measures

Genevieve Giuliano, Peter Gordon, Qisheng Pan and JiYoung Park
Additional contact information
Genevieve Giuliano: Genevieve Giuliano is in the School of Policy, Planning and Development, University of Southern California, Los Angeles, CA 90089-0636, USA, giuliano@usc.edu
Peter Gordon: Peter Gordon is in the School of Policy, Planning and Development, University of Southern California, Los Angeles, CA 90089-0636, USA, pgordon@usc.edu
Qisheng Pan: Qisheng Pan is in the School of Public Affairs, Texas Southern University, Houston, TX 77004, USA, panqisheng@gmail.com
JiYoung Park: JiYoung Park is in the Department of Urban and Regional Planning, University at Buffalo, Buffalo, NY 14620, USA, jp292@buffalo.edu

Urban Studies, 2010, vol. 47, issue 14, 3103-3130

Abstract: Accessibility is a fundamental concept in theories of metropolitan spatial structure. Urban economic models explain urban structure as a function of access to jobs; accessibility is capitalised into land values, which in turn explain the population distribution. Studies of residential land values show that many factors contribute to the value of a given location: the characteristics of the housing unit, its location with respect to social and environmental amenities, as well as access to jobs, services and other economic opportunities. Empirical studies typically use job access as a proxy for more generalised access to economic activities. However, jobs represent many different activities, from retail shopping to heavy manufacturing, and the value of access to these activities may be positive or negative. In this paper, accessibility measures based on industry sectors have been developed, allowing the separating out of possible different effects. Their impacts are tested on residential land values using data from the Los Angeles region. A multilevel modelling approach is used in order to control for neighbourhood-level attributes common to multiple properties. It is found that the various access measures have different and significant effects on land values, but attributes of the dwelling unit, together with access to the coast, explain most of the variation. The multilevel model is confirmed; there is significant correlation among properties within the same neighbourhood.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:47:y:2010:i:14:p:3103-3130

DOI: 10.1177/0042098009359949

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