The Effect of Sports Franchises on Property Values: The Role of Owners Versus Renters

Katherine Kiel, Victor A. Matheson () and Christopher Sullivan
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Victor A. Matheson: Department of Economics and Accounting, College of the Holy Cross
Christopher Sullivan: Law Office of Chris Sullivan

A chapter in The Economic Impact of Sports Facilities, Franchises, and Events, 2023, pp 157-170 from Springer

Abstract: Abstract This paper estimates the public benefits to homeowners in cities with NFL franchises by examining housing prices rather than housing rents. Similar to Carlino and Coulson (2004), we find that the presence of an NFL franchise has no effect on housing prices in the entire SMSA, but unlike their previous finding, the presence of an NFL franchise also has no effect on housing prices in the central city. Furthermore, we test whether the presence and size of the subsidy to the team for NFL stadium construction affects values and find some evidence that higher subsidies lead to lower house prices. This suggests that the benefits that homeowners receive from the presence of a team are negated by the increased tax burden due to the subsidies paid to the franchises.

Keywords: Hedonic pricing; Sports economics; Economic impact; Property values (search for similar items in EconPapers)
Date: 2023
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Related works:
Working Paper: The Effect of Sports Franchises on Property Values: The Role of Owners versus Renters (2010)
Working Paper: The Effect of Sports Franchises on Property Values: The Role of Owners versus Renters (2010)
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DOI: 10.1007/978-3-031-39248-1_11

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