Mega-Events and Housing Costs: Raising the Rent while Raising the Roof?

Dennis Coates and Victor Matheson

No 903, Working Papers from College of the Holy Cross, Department of Economics

Abstract: This paper examines the relationship between hosting mega-events such as the Super Bowl, Olympics, and World Cup and rental housing prices in host cities. If mega-events are amenities for local residents, then rental housing prices can serve as a proxy for estimating residents’ willingness to pay for these amenities. An analysis of rental prices in a panel of American cities from 1993-2005 fails to find a consistent impact of mega-events on rental prices. When controls are placed on the regression models to account for nationwide annual fluctuations in rental prices, mega-events generally exhibit little impact on rental prices in cities as a whole and are as likely to reduce rental prices as increase them. Somewhat stronger evidence exists, however, that mega-events affect rental prices outside of the center city in a fundamentally different manner than in the city core.

Keywords: sports; stadiums; franchises; impact analysis; mega-event; housing (search for similar items in EconPapers)
JEL-codes: L83 O18 R53 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2009-02
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Citations: View citations in EconPapers (3)

Published in Annals of Regional Science, Vol. 46:1, February 2011, pp. 119-137.

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https://hcapps.holycross.edu/hcs/RePEc/hcx/HC0903- ... n_MegaEventRents.pdf (application/pdf)

Related works:
Journal Article: Mega-events and housing costs: raising the rent while raising the roof? (2011)
Working Paper: Mega-Events and Housing Costs: Raising the Rent while Raising the Roof? (2009)
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