Rail station access and housing market resilience: Case studies of Atlanta, Baltimore and Portland

Timothy F Welch, Steven R Gehrke and Steven Farber
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Timothy F Welch: Georgia Institute of Technology, USA
Steven R Gehrke: Portland State University, USA
Steven Farber: University of Toronto Scarborough, Canada

Urban Studies, 2018, vol. 55, issue 16, 3615-3630

Abstract: The recent United States housing market crisis resulted in a significant decline in housing market values. Yet, the extent to which urban amenities such as rail stations moderated the market impacts has not been entirely recognised. This study undertakes a repeat sales analysis to understand the impact of station proximity on housing values before, during and after the market crisis. Specifically, a housing price resilience index assesses market changes from 2002 to 2013 for single-family and multifamily homes within a quarter of a mile, half a mile, one mile and greater distances from the nearest rail station. The analysis is replicated in three cities: Atlanta, Georgia; Baltimore, Maryland; and Portland, Oregon. Although the recession had significant negative impacts on properties in each city, our study finds that access played a critical role in helping transit-orientated submarkets retain their value throughout the recession and recover value at a faster rate than homes without convenient fixed transit access.

Keywords: housing sales; price resiliency; rail stations; repeat sales analysis; transit accessibility; 房屋销售; ä»·æ ¼å¼¹æ€§; ç «è½¦ç«™; 回头客分æž; è½¨é “äº¤é€šé€šè¾¾æ€§ (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:55:y:2018:i:16:p:3615-3630

DOI: 10.1177/0042098018760708

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