External validity of hedonic price estimates: Heterogeneity in the price discount associated with having Black and Hispanic neighbors

Lei Zhang and Tammy Leonard

Journal of Regional Science, 2021, vol. 61, issue 1, 62-85

Abstract: We examined the hedonic price of neighborhood racial composition across a sample of 180 US housing markets and compared heterogeneity in results. Statistically significant estimated price elasticities calculated at the mean ranged from −0.61 to 0.2 and −0.26 to 0.21, for increases in Black and Hispanic neighborhood proportion, respectively. Hedonic price discounts for Black neighborhoods were greater when land supply was more inelastic, when the land value share of the housing cost was greater, and in the southern portion of the United States. Hedonic price discounts associated with Hispanic neighborhoods exhibited no patterns relative to geography or housing supply factors.

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/jors.12502

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:bla:jregsc:v:61:y:2021:i:1:p:62-85

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0022-4146

Access Statistics for this article

Journal of Regional Science is currently edited by Marlon G. Boarnet, Matthew Kahn and Mark D. Partridge

More articles in Journal of Regional Science from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().