Impact of transit stations on house prices across entire price spectrum: A quantile regression approach
Land Use Policy
This study provides evidence on the impact of a heavy-rail-based transit station on house prices by employing quantile regression method on a dataset that inventories sales transactions of single-family houses during the January 2000–April 2018 period, and within eight kilometers (five miles) of the Warm Springs station of the San Francisco Bay Area Rapid Transit system. The station is located in Fremont, CA. The results show that a) the station increased house prices across the entire price spectrum, and b) the price increase began more than ten years before the rail service commenced. On a larger note, this study should strengthen efforts to a) provide or extend heavy-rail-based rapid transit systems in areas of high need and b) explore the use of value capture tools to fund transit.
Hedonic regression, House prices, Land use policy, Quantile regression, Rail, Regression, Transit, Transit stations, Urban economics, Value capture
Urban and Regional Planning
Shishir Mathur. "Impact of transit stations on house prices across entire price spectrum: A quantile regression approach" Land Use Policy (2020). https://doi.org/10.1016/j.landusepol.2020.104828