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The Impact of Age on the Value of historic homes in a Nationally Recognized Historic District

Author

Listed:
  • Kimberly Winson-Geideman

    (University of North Texas)

  • Dawn Jourdan

    (University of Florida)

  • Shan Gao

    (Texas A&M University)

Abstract

This paper uses hedonic modeling to test the effects of age, both actual and effective, on the value of historic properties within a nationally recognized historic district. Findings show that there is a critical point where the value of historic properties is affected by actual age and the depreciation schedule turns upward. Effective age is used to develop a variant of Tobin's Q which provides evidence that inter-district price differentials often attributed to historic designation are at least partially a function of investment differentials between districts.

Suggested Citation

  • Kimberly Winson-Geideman & Dawn Jourdan & Shan Gao, 2011. "The Impact of Age on the Value of historic homes in a Nationally Recognized Historic District," Journal of Real Estate Research, American Real Estate Society, vol. 33(1), pages 25-48.
    • Handle: RePEc:jre:issued:v:33:n:1:2011:p:25-48
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    Cited by:

    1. Go-Eun Kim & Jeong-Ran Lee, 2020. "The Impact of Historic Building Preservation in Urban Economics: Focusing on Accommodation Prices in Jeonju Hanok Village, South Korea," Sustainability, MDPI, vol. 12(12), pages 1-14, June.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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