Willingness to Pay for Attributes of Location Efficiency

Jeremy Gabe (), Spenser Robinson () and Andrew Sanderford ()
Additional contact information
Jeremy Gabe: University of San Diego
Spenser Robinson: Central Michigan University
Andrew Sanderford: University of Virginia

The Journal of Real Estate Finance and Economics, 2022, vol. 65, issue 3, No 2, 384-418

Abstract: Abstract This paper examines U.S. residential consumer willingness to pay for location efficiency, a normative advancement of new urbanism. Drawing on a national sample of multi-family housing data joined to measures of urban form and spatial structure, empirical models suggest three contributions to the literature. First, renters are willing to pay for greater location efficiency and for individual attributes of more efficient locations. Second, renters’ tastes and preferences for location efficiency are spatially heterogeneous. Third, location efficiency data appears to provide a meaningful level of control for locational quality. These contributions extend prior research efforts related to bid rent and urban amenities.

Keywords: Urban form; New urbanism; Walkability; Multi-family housing; Density; Design; Destination accessibility; Transit (search for similar items in EconPapers)
JEL-codes: R20 R31 R40 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s11146-021-09847-z

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