Geographically Weighted Regression Models in Estimating Median Home Prices in Towns of Massachusetts Based on an Urban Sustainability Framework
Yaxiong Ma and
Sucharita Gopal
Additional contact information
Yaxiong Ma: Department of Earth and Environment, Boston University, Boston, MA 02215, USA
Sucharita Gopal: Department of Earth and Environment, Boston University, Boston, MA 02215, USA
Sustainability, 2018, vol. 10, issue 4, 1-27
Abstract:
Housing is a key component of urban sustainability. The objective of this study was to assess the significance of key spatial determinants of median home price in towns in Massachusetts that impact sustainable growth. Our analysis investigates the presence or absence of spatial non-stationarity in the relationship between sustainable growth, measured in terms of the relationship between home values and various parameters including the amount of unprotected forest land, residential land, unemployment, education, vehicle ownership, accessibility to commuter rail stations, school district performance, and senior population. We use the standard geographically weighted regression (GWR) and Mixed GWR models to analyze the effects of spatial non-stationarity. Mixed GWR performed better than GWR in terms of Akaike Information Criterion (AIC) values. Our findings highlight the nature and spatial extent of the non-stationary vs. stationary qualities of key environmental and social determinants of median home price. Understanding the key determinants of housing values, such as valuation of green spaces, public school performance metrics, and proximity to public transport, enable towns to use different strategies of sustainable urban planning, while understanding urban housing determinants—such as unemployment and senior population—can help modify urban sustainable housing policies.
Keywords: urban ecology; suburban sprawl; residential development; remote sensing; GWR; mixed GWR; GIS; sustainability; home price (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)
Downloads: (external link)
https://www.mdpi.com/2071-1050/10/4/1026/pdf (application/pdf)
https://www.mdpi.com/2071-1050/10/4/1026/ (text/html)
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:gam:jsusta:v:10:y:2018:i:4:p:1026-:d:138888
Access Statistics for this article
Sustainability is currently edited by Ms. Alexandra Wu
More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().