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Historic Preservation and Residential Property Values: Evidence from Quantile Regression

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  • Velma Zahirovic-Herbert
  • Swarn Chatterjee

Abstract

Historic designation is increasingly used as a means to achieve both preservation and community economic development. This study considered the effects of historic designation on residential property values in Baton Rouge, Louisiana, USA. The results support the well-established notion in urban economics literature that historic preservation has a positive impact on property values. However, appreciation of property values may displace less-affluent residents of historic districts after designation takes place. The results also show that the lower-end properties gain the most value from historic preservation. Thus, it must indeed be recognised that with increasing values comes the very real possibility that displacement of neighbourhood residents can occur.

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  • Velma Zahirovic-Herbert & Swarn Chatterjee, 2012. "Historic Preservation and Residential Property Values: Evidence from Quantile Regression," Urban Studies, Urban Studies Journal Limited, vol. 49(2), pages 369-382, February.
    • Handle: RePEc:sae:urbstu:v:49:y:2012:i:2:p:369-382
    DOI: 10.1177/0042098011404936
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    3. Tetsuharu Oba & Douglas Simpson Noonan, 2020. "The Price of Preserving Neighborhoods: The Unequal Impacts of Historic District Designation," Economic Development Quarterly, , vol. 34(4), pages 343-355, November.
    4. Nancy Holman & Gabriel M Ahlfeldt, 2015. "No Escape? The Coordination Problem in Heritage Preservation," Environment and Planning A, , vol. 47(1), pages 172-187, January.
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    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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