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The Impact of Transit Corridors on Residential Property Values

Author

Listed:
  • John A. Kilpatrick

    (Greenfield Advisors LLC, Seattle, Washington 98121)

  • Ronald C. Throupe

    (Greenfield Advisors LLC, Seattle, Washington 98121)

  • John I. Carruthers

    (U.S. Department of Housing and Urban Development, Office of Policy Development and Research)

  • Andrew Krause

    (Greenfield Advisors LLC, Seattle, Washington 98121)

Abstract

Most of the literature on transit corridors, such as superhighways and tunnels, focuses on the positive externality of transit access (e.g., interstate access, transit station) and fails to isolate the negative externality of the corridor itself. This empirical study examines two situations: one with both access benefits and negatives, and another without the access benefit. The findings reveal that proximity to the transit corridor alone without direct access conveys a negative impact on nearby housing values.

Suggested Citation

  • John A. Kilpatrick & Ronald C. Throupe & John I. Carruthers & Andrew Krause, 2007. "The Impact of Transit Corridors on Residential Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 29(3), pages 303-320.
    • Handle: RePEc:jre:issued:v:29:n:3:2007:p:303-320
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    References listed on IDEAS

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    Cited by:

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    15. Helen XH Bao & Johan P Larsson & Vivien Wong, 2021. "Light at the end of the tunnel:The impacts of expected major transport improvements on residential property prices," Urban Studies, Urban Studies Journal Limited, vol. 58(14), pages 2971-2990, November.
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    18. Yang, Linchuan & Chu, Xiaoling & Gou, Zhonghua & Yang, Hongtai & Lu, Yi & Huang, Wencheng, 2020. "Accessibility and proximity effects of bus rapid transit on housing prices: Heterogeneity across price quantiles and space," Journal of Transport Geography, Elsevier, vol. 88(C).
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