Traffic congestion, accessibility to employment, and housing prices: A study of single-family housing market in Los Angeles County

Yuting Hou ()

Urban Studies, 2017, vol. 54, issue 15, 3423-3445

Abstract: This study mainly addresses two main questions: (1) whether traffic congestion negatively affects single-family house price by constraining accessibility to jobs; (2) whether congestion effects and accessibility effects vary by income groups within a metropolitan area. This study uses a multilevel hedonic price model to estimate the marginal price of accessibility while controlling for other neighbourhood attributes and the correlation of proximal housing sales. The congestion effects are identified by comparing the implicit price of accessibility between congested-flow and free-flow. The results show that the accessibility measured with congested time yields higher marginal price, suggesting that households are willing to pay more to avoid locations with high congestion delays and accessibility loss. The results also suggest that accessibility effects are more valued by homebuyers in middle-income neighbourhoods, compared with those in the lowest or highest income neighbourhoods.

Keywords: accessibility to employment; housing prices; multilevel linear model; traffic congestion; ä¸Šç ­é€šè¾¾åº¦; ä½ æˆ¿ä»·æ ¼; 多层线性模型; äº¤é€šæ‹¥å µ (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:54:y:2017:i:15:p:3423-3445

DOI: 10.1177/0042098016675093

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