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The center restored: Chicago's residential price gradient reemerges

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  • Daniel P. McMillen

Abstract

After a long period during which house prices were not affected by distance from Chicago's central business district, values now decline by more than 8 percent per mile. Annual appreciation rates in house prices are higher in neighborhoods close to the city center with large minority populations, high concentrations of poverty, and many vacant homes in 1990.

Suggested Citation

  • Daniel P. McMillen, 2002. "The center restored: Chicago's residential price gradient reemerges," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 26(Q II), pages 2-11.
    • Handle: RePEc:fip:fedhep:y:2002:i:qii:p:2-11:n:v.26no.2
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    File URL: http://www.chicagofed.org/digital_assets/publications/economic_perspectives/2002/2qepart1.pdf
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    References listed on IDEAS

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    1. Carlos Marmolejo Duarte & Carlos Aguirre Nuñez & Eduardo Chica Mejia & Claudia Perez Prieto & Jaume Masip Tresserra, 2011. "Polycentrism in the Spanish metropolitan system: an analysis for 7 metro areas," ERSA conference papers ersa11p119, European Regional Science Association.

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