The Impact of Light Rail Station Type on Single Family Residential Property Value in the City of Portland, OR PDF Download
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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: 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: Stephen Anderson
Publisher:
ISBN:
Category :
Languages : en
Pages :
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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:
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Category : Air travel
Languages : en
Pages : 462
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Author:
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Category : City planning
Languages : en
Pages : 656
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Author: William Huang
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Category : Land use
Languages : en
Pages : 42
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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.
Author:
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ISBN:
Category :
Languages : en
Pages : 528
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Author: Gerrit Knaap
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Category : Real property
Languages : en
Pages : 26
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Author: Judith Eleanor Innes
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Category : City planning
Languages : en
Pages : 666
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Author:
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ISBN:
Category : Urban transportation
Languages : en
Pages : 458
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