Impact of Light Rail Transit Proximity on Single-family Home Value Appreciation in Portland, Oregon 1998-2007 PDF Download
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Author: Stephen Anderson
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
ABSTRACT: The mobility and accessibility offered by living in walkable proximity to transit cannot be understated. Enter, Portland, Oregon, the city that pioneered its Urban Growth Boundary (UGB) in 1979. The UGB in concert with Metro, the city's regional governing body has one of the highest per capita light rail uses in the United States(American Public Transportation Association, 2008). Currently three lines (soon to be four) and nearly forty stations serve this metro area (numbering two million people) connecting jobs, entertainment, and the necessities of life with residents. Numerous studies examine the impact transit access has on property values as far back as the 1960s (Hess & Almeida, 2006). A large body of work exists on how just the preparation of planning a transit line can affect property values. This thesis examines the single family home real estate appreciation rates around five light rail stations throughout the region. The proximity to LRT should reflect in higher valuation of the land. The five stops are also categorized as low or high-income areas as well as having new, existing or no light rail access. This thesis examines via parcel data home value appreciation rate through 1997-2007 and compares the appreciation rates between single -family residential units in areas that are within a quarter-mile of a rail station versus those who are not.
Author: Stephen Anderson
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
ABSTRACT: The mobility and accessibility offered by living in walkable proximity to transit cannot be understated. Enter, Portland, Oregon, the city that pioneered its Urban Growth Boundary (UGB) in 1979. The UGB in concert with Metro, the city's regional governing body has one of the highest per capita light rail uses in the United States(American Public Transportation Association, 2008). Currently three lines (soon to be four) and nearly forty stations serve this metro area (numbering two million people) connecting jobs, entertainment, and the necessities of life with residents. Numerous studies examine the impact transit access has on property values as far back as the 1960s (Hess & Almeida, 2006). A large body of work exists on how just the preparation of planning a transit line can affect property values. This thesis examines the single family home real estate appreciation rates around five light rail stations throughout the region. The proximity to LRT should reflect in higher valuation of the land. The five stops are also categorized as low or high-income areas as well as having new, existing or no light rail access. This thesis examines via parcel data home value appreciation rate through 1997-2007 and compares the appreciation rates between single -family residential units in areas that are within a quarter-mile of a rail station versus those who are not.
Author: Siman Ning
Publisher:
ISBN:
Category :
Languages : en
Pages : 64
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Book Description
Light rail projects increase accessibility and light rail stations should result in a land value uplift (LVU) benefit for housing near stations. Extensive research has tested this hypothesis, generally using distance or distance band as a proxy of accessibility. However, the context of transit stations has not gained enough attention in past research. This research divides light rail stations into four different types based on land use ratio, density, sidewalk length, and accessibility; then, the station types are incorporated into a hedonic model. The modeling results confirm the price premium brought by light rail stations to nearby single-family homes. Findings also suggest that, after controlling for accessibility, TOD impacts on single family housing price varies in relation to station type. In other words, station area land use matters when considering land use value capture from light rail development. Future research should further examine how surrounding land uses interact with TOD in affecting housing price.
Author: Kumares C. Sinha
Publisher: John Wiley & Sons
ISBN: 0471747327
Category : Technology & Engineering
Languages : en
Pages : 570
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Book Description
Transportation Decision Making A GUIDE TO EFFECTIVE DECISION MAKING WRITTEN JUST FOR TRANSPORTATION PROFESSIONALS This pioneering text provides a holistic approach to decision making in transportation project development and programming, which can help transportation professionals to optimize their investment choices. The authors present a proven set of methodologies for evaluating transportation projects that ensures that all costs and impacts are taken into consideration. The text’s logical organization gets readers started with a solid foundation in basic principles and then progressively builds on that foundation. Topics covered include: Developing performance measures for evaluation, estimating travel demand, and costing transportation projects Performing an economic efficiency evaluation that accounts for such factors as travel time, safety, and vehicle operating costs Evaluating a project’s impact on economic development and land use as well as its impact on society and culture Assessing a project’s environmental impact, including air quality, noise, ecology, water resources, and aesthetics Evaluating alternative projects on the basis of multiple performance criteria Programming transportation investments so that resources can be optimally allocated to meet facility-specific and system-wide goals Each chapter begins with basic definitions and concepts followed by a methodology for impact assessment. Relevant legislation is discussed and available software for performing evaluations is presented. At the end of each chapter, readers are provided resources for detailed investigation of particular topics. These include Internet sites and publications of international and domestic agencies and research institutions. The authors also provide a companion Web site that offers updates, data for analysis, and case histories of project evaluation and decision making. Given that billions of dollars are spent each year on transportation systems in the United States alone, and that there is a need for thorough and rational evaluation and decision making for cost-effective system preservation and improvement, this text should be on the desks of all transportation planners, engineers, and educators. With exercises in every chapter, this text is an ideal coursebook for the subject of transportation systems analysis and evaluation.
Author:
Publisher:
ISBN:
Category : Gentrification
Languages : en
Pages : 151
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Book Description
This study draws on census data and geographic information systems (GIS) to investigate the relationship between light rail transit (LRT) infrastructure development and gentrification in Portland, Oregon. While recent research using comprehensive measures of neighborhood socioeconomic status (SES) supports a potentially causal link between transit development and gentrification, research into the effects of transit on property values alone tends to dominate the discourse. This study therefore seeks to build on previous research to develop an index measure of neighborhood SES and SES change based on measures of education, occupation, and income, using census data from 1980-2010. This multifaceted measure of neighborhood SES is analyzed in relation to LRT access using correlation, OLS regression, and GIS hot spot and choropleth mapping. Findings: Throughout the study period, low SES neighborhoods largely disappeared from the City of Portland, while low-income households were gradually priced out. Simultaneously, the easternmost suburb of Gresham became more highly concentrated in low SES neighborhoods. No definitive relationship between LRT and SES is found along the Eastside Blue or Westside Blue Lines, but strong evidence is found supporting a positive effect of Yellow Line MAX development on the rapid gentrification of North Portland from 2000-2010. Regressions run on neighborhoods along the Yellow Line indicate that SES change was greatest for those that began the decade with large Black populations, low rents, and close proximity to stations. Findings are discussed through the theoretical framework of the urban growth machine, which suggests the differential relationship between LRT and neighborhood SES relates to the distinct values of different parts of the region for the pursuit of general growth goals.
Author: Philip Wuest
Publisher:
ISBN:
Category : Housing, Single family
Languages : en
Pages : 154
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Author:
Publisher:
ISBN:
Category : Dwellings
Languages : en
Pages : 48
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Author: Eric Mandel
Publisher:
ISBN:
Category :
Languages : en
Pages : 94
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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 518
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Author: Yan Song
Publisher:
ISBN:
Category : Community development
Languages : en
Pages : 274
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Author: Elizabeth Cochrane Campbell
Publisher:
ISBN:
Category :
Languages : en
Pages : 54
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Book Description
Light rail transit (LRT) systems are tools to help reduce traffic congestion and air pollution, promote high-density development and more affordable housing, and curtail urban sprawl in metropolitan cities throughout the United States. The impact of transit system services on property values has been studied from various perspectives using many statistical approaches. There are two general categories of effects that proximity to a light rail system can have on the value of residential properties: accessibility benefits (experienced in close proximity to the LRT stations) might increase property values, while nuisance qualities (experienced in both proximity to the LRT line and stations) could have a negative effect on residential property values. Due to the opposing nature of these coexisting effects, results from many empirical studies have been contradictory or inconclusive. This report reviews the spectrum of results found by the growing body of literature focusing on the capitalization effects of rail stations on property values. The economic effect of one particular LRT system, the 7.5 mile long METRORail line located in Houston, Texas, on the value of properties within close proximity to rail stations has not been thoroughly examined, as it only opened for service in 2004. This study utilizes property data acquired from the Harris County Appraisal District (HCAD), Geographic Information System (GIS) techniques, and Hedonic Price Models to analyze the impact of the LRT system in the city of Houston, Texas, on the value of residential properties that lie within close proximity to the line's rail stations.
