Urban Location and Housing Prices within a Hedonic Model

John R. Ottensmann, Seth Payton and Joyce Man

Journal of Regional Analysis and Policy, 2008, vol. 38, issue 01, 17

Abstract: A measure of location relative to employment is often included in hedonic housing price models. This is most often distance to the center, based on the monocentric model, which does not consider the decentralization of employment in urban areas. This paper tests the perfor-mance of alternative measures of location, considering both distance and time to the center and to multiple employment centers and measures of accessibility to employment and change in accessibility. The measures using multiple employment centers and accessibility perform better than simple distance to the center, with the combination of accessibility to employment and change in accessibility doing best.

Keywords: Community/Rural/Urban Development; Labor and Human Capital (search for similar items in EconPapers)
Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (26)

Downloads: (external link)
https://ageconsearch.umn.edu/record/132338/files/08-1-2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:jrapmc:132338

DOI: 10.22004/ag.econ.132338

Access Statistics for this article

More articles in Journal of Regional Analysis and Policy from Mid-Continent Regional Science Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().