The Land Value Gradient in a (Nearly) Collapsed Urban Real Estate Market

Timothy R. Hodge, Gary Sands and Mark Skidmore

Land Economics, 2017, vol. 93, issue 4, 549-566

Abstract: This article uses data on 3,788 vacant land sales to explore the pattern of land values in the city of Detroit, Michigan. The analysis provides evidence of a U-shaped land value gradient. Land values are relatively high in and near the central business district (CBD), but the land value gradient is very steep; estimated land values drop precipitously to less than $1,000 for typical sized lot in a vast “donut” area surrounding the CBD. However, land values begin to rise near the city’s border.

JEL-codes: R14 (search for similar items in EconPapers)
Date: 2017
Note: DOI: 10.3368/le.93.4.549
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Citations: View citations in EconPapers (3)

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