Transportation, Sorting and House Values

Richard Voith

Real Estate Economics, 1991, vol. 19, issue 2, 117-137

Abstract: In this paper, we examine the importance of accessibility to employment and transportation system attributes for residential location choice, car ownership and house values. Using the 1980 Census of Housing and Journey to Work data merged with transportation system data, we find strong evidence of residential sorting based on employment location. We find that suburban areas with good commuter rail access to the CBD have significantly greater fractions of their labor force working in the CBD, own fewer cars and have higher house prices than similar neighborhoods and houses in census tracts without service. The house value premium is over 6.4%.

Date: 1991
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