Land Use Policy
This study provides evidence for a non-linear and weakly monotonic relationship between school quality and house prices. Using Fremont, California, as the study area, the regression analysis shows that homeowners are unwilling to pay a premium for an increase in school quality from low to medium quality. However, they are willing to pay a) a large premium when all schools are top-quality schools and b) a premium for access to nationally-renowned schools, which is in addition to the premium for top-quality schools. These findings have important land use policy significance because they provide new insights into the homeowner’s residential location choice and highlight the need to consider school quality in a jurisdiction’s land use and zoning decisions.
Land use policy, School quality, Spatial hedonic regression, Housing, Urban economics
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Urban and Regional Planning
Shishir Mathur. "Non-linear and weakly monotonic relationship between school quality and house prices" Land Use Policy (2021). https://doi.org/10.1016/j.landusepol.2021.105922