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Hedonic Estimation and Policy Significance of the Impact of HOPE VI on Neighborhood Property Values

Edward Bair and John Fitzgerald ()

Review of Policy Research, 2005, vol. 22, issue 6, 771-786

Abstract: HOPE VI was designed as a program to revitalize distressed public housing. This study uses hedonic methods to test whether projects that are rebuilt with HOPE VI funds have a positive effect on surrounding property values. Comparisons are made between HOPE VI and other types of public housing programs using data on property values by census block groups from the 2000 census. We find that HOPE VI had a statistically significant positive impact on surrounding property values on the order of 8–10% for every quarter‐mile closer that a housing unit was located to the development. Other public housing developments were found to have little if any effect on property values.

Date: 2005
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Handle: RePEc:bla:revpol:v:22:y:2005:i:6:p:771-786