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Evaluating Subdivision Characteristics on Single-Family Housing Value Using Hierarchical Linear Modeling

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  • Woo-Jin Shin
  • Jesse Saginor
  • Shannon Van Zandt

Abstract

This research quantifies the financial effects of value creation concepts in relation to housing values in a single-family residential development using hierarchical linear modeling (HLM). As a result, value creation concepts such as sense of arrival, greenway connectivity, and the median length of a culde-sac have positive effects on single-family housing values while the number of accessible entrances and the median length of block variables have negative effects on single-family housing values. These results indicate that higher values in a subdivision may result from smaller blocks, interconnected greenways, and a single entrance that provides a sense of arrival.

Suggested Citation

  • Woo-Jin Shin & Jesse Saginor & Shannon Van Zandt, 2011. "Evaluating Subdivision Characteristics on Single-Family Housing Value Using Hierarchical Linear Modeling," Journal of Real Estate Research, Taylor & Francis Journals, vol. 33(3), pages 317-348, January.
    • Handle: RePEc:taf:rjerxx:v:33:y:2011:i:3:p:317-348
    DOI: 10.1080/10835547.2011.12091310
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