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Small Cities Matter, Too: The Impacts of an Airport and Local Infrastructure on Housing Prices in a Small Urban City

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  • Cliff Lipscomb

Abstract

Cities with small populations tend not to receive as much attention in housing hedonic studies as do large metropolitan areas despite their similar economic development goals (quality of life improvements for their citizens, etc.). However, small cities, with their relatively smaller number of amenities and features, tend to have fewer numbers of variables that operate to determine house prices. Therefore, hedonic prices can be estimated adequately for a single neighborhood in a small city with publicly available data, particularly for local officials who do not have the time or financial resources to complete detailed studies of their cities. In this study, a general model is estimated that uncovers the impacts of airport†related noise, local recreational amenities, public transportation services, and schools on housing prices in a small city in metropolitan Atlanta, Georgia, USA. The implications and usefulness of this approach to local economic developers and city planners will be discussed.

Suggested Citation

  • Cliff Lipscomb, 2003. "Small Cities Matter, Too: The Impacts of an Airport and Local Infrastructure on Housing Prices in a Small Urban City," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 15(3), pages 255-273, November.
    • Handle: RePEc:bla:revurb:v:15:y:2003:i:3:p:255-273
    DOI: 10.1111/j.1467-940X.2003.00076.x
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    Cited by:

    1. Tony H. Grubesic & Kurt Fuellhart & Fangwu Wei & Kevin O'Connor, 2017. "Regional perspectives on general aviation and reliever airports: A case study of the Phoenix metropolitan area," Regional Science Policy & Practice, Wiley Blackwell, vol. 9(2), pages 101-120, June.
    2. Georgios Kavetsos, 2012. "The Impact of the London Olympics Announcement on Property Prices," Urban Studies, Urban Studies Journal Limited, vol. 49(7), pages 1453-1470, May.
    3. David Bell & Mark Jayne, 2009. "Small Cities? Towards a Research Agenda," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(3), pages 683-699, September.
    4. Jeffrey P. Cohen & Cletus C. Coughlin, 2009. "Changing Noise Levels and Housing Prices Near the Atlanta Airport," Growth and Change, Wiley Blackwell, vol. 40(2), pages 287-313, June.
    5. G. Jud & Daniel Winkler, 2006. "The Announcement Effect of an Airport Expansion on Housing Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 33(2), pages 91-103, September.
    6. Jeffrey P. Cohen & Cletus C. Coughlin, 2008. "Spatial Hedonic Models Of Airport Noise, Proximity, And Housing Prices," Journal of Regional Science, Wiley Blackwell, vol. 48(5), pages 859-878, December.
    7. Philipp Breidenbach & Jeffrey Cohen & Sandra Schaffner, 2022. "Continuation of air services at Berlin‐Tegel and its effects on apartment rental prices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(6), pages 1548-1575, November.
    8. Kolala, Chomba & Polyakov, Maksym & Fogarty, James, 2020. "Impacts of mining on property values in Kalgoorlie-Boulder, Western Australia," Resources Policy, Elsevier, vol. 68(C).
    9. Efthymiou, D. & Antoniou, C., 2015. "Investigating the impact of recession on transportation cost capitalization: a spatial analysis," Journal of Transport Geography, Elsevier, vol. 42(C), pages 1-9.
    10. Efthymiou, D. & Antoniou, C., 2013. "How do transport infrastructure and policies affect house prices and rents? Evidence from Athens, Greece," Transportation Research Part A: Policy and Practice, Elsevier, vol. 52(C), pages 1-22.
    11. Breidenbach, Philipp & Cohen, Jeffrey P. & Schaffner, Sandra, 2019. "Continuation of air services at Berlin-Tegel and its effects on rental prices," Ruhr Economic Papers 822, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    12. Janmaat, John A, 2007. "Factors Affecting Residential Property Values in a Small Historic Canadian University Town," MPRA Paper 6145, University Library of Munich, Germany.
    13. Breidenbach, Philipp & Thiel, Patrick, 2023. "Housing Prices, Airport Noise and an Unforeseeable Event of Silence," Ruhr Economic Papers 1020, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.

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