Gated Streets and House Prices

Michael LaCour-Little and Stephen Malpezzi

Journal of Housing Research, 2009, vol. 18, issue 1, 19-43

Abstract: We empirically examine the effect of neighborhood controls, including homeowner associations and private/limited access streets, on house prices using data from St. Louis, one of the first urban areas in which such development patterns emerged. We find that houses located in limited access subdivisions command an economically significant price premium holding other factors constant. We corroborate the size and economic significance of the price premium identified using data on three quite different suburban communities in Southern California. Findings are consistent with Tiebout sorting.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:taf:rjrhxx:v:18:y:2009:i:1:p:19-43

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DOI: 10.1080/10835547.2009.12092002

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