HOUSE PRICE IMPACTS OF RACIAL, INCOME, EDUCATION, AND AGE NEIGHBORHOOD SEGREGATION
David Brasington (),
Diane Hite () and
Andres Jauregui ()
Journal of Regional Science, 2015, vol. 55, issue 3, 442-467
We study housing prices and neighborhood segregation. We advance the literature by (1) studying not just racial segregation like previous studies, but also segregation by age, income, and education level, (2) using a finer unit of geography to construct segregation measures, (3) incorporating spatial statistics, and (4) separating segregation effects from underlying population level effects. We find race segregation is positively related to house prices, with an elasticity of 0.19. In contrast, income and educational segregation reduce housing values, with elasticities of −0.23 and −0.21. By comparison, house age has an elasticity of −0.15. Age segregation is not generally capitalized.
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