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Rail station access and housing market resilience: Case studies of Atlanta, Baltimore and Portland

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  • Timothy F Welch

    (Georgia Institute of Technology, USA)

  • Steven R Gehrke

    (Portland State University, USA)

  • Steven Farber

    (University of Toronto Scarborough, Canada)

Abstract

The recent United States housing market crisis resulted in a significant decline in housing market values. Yet, the extent to which urban amenities such as rail stations moderated the market impacts has not been entirely recognised. This study undertakes a repeat sales analysis to understand the impact of station proximity on housing values before, during and after the market crisis. Specifically, a housing price resilience index assesses market changes from 2002 to 2013 for single-family and multifamily homes within a quarter of a mile, half a mile, one mile and greater distances from the nearest rail station. The analysis is replicated in three cities: Atlanta, Georgia; Baltimore, Maryland; and Portland, Oregon. Although the recession had significant negative impacts on properties in each city, our study finds that access played a critical role in helping transit-orientated submarkets retain their value throughout the recession and recover value at a faster rate than homes without convenient fixed transit access.

Suggested Citation

  • Timothy F Welch & Steven R Gehrke & Steven Farber, 2018. "Rail station access and housing market resilience: Case studies of Atlanta, Baltimore and Portland," Urban Studies, Urban Studies Journal Limited, vol. 55(16), pages 3615-3630, December.
    • Handle: RePEc:sae:urbstu:v:55:y:2018:i:16:p:3615-3630
    DOI: 10.1177/0042098018760708
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    References listed on IDEAS

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