Valuing New Urbanism: The Case of Kentlands

Charles C. Tu and Mark J. Eppli

Real Estate Economics, 1999, vol. 27, issue 3, 425-451

Abstract: This study assesses the impact of new urbanism on single‐family home prices. Specifically, we use Duany and Plater‐Zyberk's traditional neighborhood development (TND) of Kentlands and surrounding conventional subdivisions to estimate the premium, if any, that single‐family homeowners are willing to pay to reside in a community with new urbanist features. Using data on 2,061 single‐family home transactions and several hedonic price models, the empirical evidence reveals that consumers are willing to pay a premium to locate in Kentlands.

Date: 1999
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