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Disaggregation of Local Apartment Markets by Unit Type

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  • Wolverton, Marvin L
  • Hardin, William G, III
  • Cheng, Ping

Abstract

Recent market segmentation research has begun to delve into the issue of whether traditional property-type categories are sufficiently homogeneous to be modeled as aggregate real estate markets. This article extends the research on rental-property market segmentation by investigating the existence of apartment submarkets determined by unit type. The study finds that one-bedroom, one-bath units; two-bedroom, one-bath units; and two-bedroom, two-bath units function as distinct submarkets differentiated by property features, neighborhood location, and temporal changes in market rent. Copyright 1999 by Kluwer Academic Publishers

Suggested Citation

  • Wolverton, Marvin L & Hardin, William G, III & Cheng, Ping, 1999. "Disaggregation of Local Apartment Markets by Unit Type," The Journal of Real Estate Finance and Economics, Springer, vol. 19(3), pages 243-257, November.
    • Handle: RePEc:kap:jrefec:v:19:y:1999:i:3:p:243-57
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    Cited by:

    1. Usman Hamza & Lizam Mohd & Burhan Burhaida, 2021. "A Priori Spatial Segmentation of Commercial Property Market using Hedonic Price Modelling," Real Estate Management and Valuation, Sciendo, vol. 29(2), pages 16-28, June.
    2. Eli Beracha & William G. Hardin & Hilla Maaria Skiba, 2018. "Real Estate Market Segmentation: Hotels as Exemplar," The Journal of Real Estate Finance and Economics, Springer, vol. 56(2), pages 252-273, February.
    3. Barrett A. Slade, 2000. "Office Rent Determinants during Market Decline and Recovery," Journal of Real Estate Research, American Real Estate Society, vol. 20(3), pages 357-380.
    4. Gary C. Cornia & Barrett A. Slade, 2005. "Property Taxation of Multifamily Housing: An Empirical Analysis of Vertical and Horizontal Equity and Assessment Methods," Journal of Real Estate Research, American Real Estate Society, vol. 27(1), pages 17-46.
    5. William G. Hardin III & Jon Carr, 2006. "Disaggregating Neighborhood and Community Center Property Types," Journal of Real Estate Research, American Real Estate Society, vol. 28(2), pages 167-192.

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