Traffic calming and neighborhood livability: Evidence from housing prices in Portland
Regional Science and Urban Economics, 2019, vol. 74, issue C, 18-37
This paper examines the impact of traffic calming on the livability of urban residential streets. Using geo-referenced data on the installation of 1187 calming devices in Portland (OR), I test whether the interventions locally affect housing prices during succeeding years. I provide reduced-form evidence that city dwellers pay significant premiums to limit their exposure to motor vehicles, but obtain mixed results regarding the overall price impacts of calming devices. My estimates suggest that only the most effective traffic calming measures have a detectable impact on housing prices. The implied traffic flow elasticity is −0.07: projects decreasing traffic by 16% raise home values on treated streets by 1%.
Keywords: Traffic externalities; Street livability; Urban policy; Housing market (search for similar items in EconPapers)
JEL-codes: O18 H4 R2 R4 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:regeco:v:74:y:2019:i:c:p:18-37
Access Statistics for this article
Regional Science and Urban Economics is currently edited by D.P McMillen and Y. Zenou
More articles in Regional Science and Urban Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().