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The Land Value Gradient in a (Nearly) Collapsed Urban Real Estate Market

Author

Listed:
  • Timothy R. Hodge
  • Gary Sands
  • Mark Skidmore

Abstract

This article uses data on 3,788 vacant land sales to explore the pattern of land values in the city of Detroit, Michigan. The analysis provides evidence of a U-shaped land value gradient. Land values are relatively high in and near the central business district (CBD), but the land value gradient is very steep; estimated land values drop precipitously to less than $1,000 for typical sized lot in a vast “donut” area surrounding the CBD. However, land values begin to rise near the city’s border.

Suggested Citation

  • Timothy R. Hodge & Gary Sands & Mark Skidmore, 2017. "The Land Value Gradient in a (Nearly) Collapsed Urban Real Estate Market," Land Economics, University of Wisconsin Press, vol. 93(4), pages 549-566.
    • Handle: RePEc:uwp:landec:v:93:y:2017:i:4:p:549-566
    Note: DOI: 10.3368/le.93.4.549
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    File URL: http://le.uwpress.org/cgi/reprint/93/4/549
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    Citations

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    Cited by:

    1. Wen, Lanjiao & Chatalova, Lioudmila & Zhang, Anlu, 2022. "Can China's unified construction land market mitigate urban land shortage? Evidence from Deqing and Nanhai, Eastern coastal China," Land Use Policy, Elsevier, vol. 115(C).
    2. Paredes, Dusan & Skidmore, Mark, 2017. "The net benefit of demolishing dilapidated housing: The case of Detroit," Regional Science and Urban Economics, Elsevier, vol. 66(C), pages 16-27.
    3. Suzuki, Masatomo & Hino, Kimihiro & Muto, Sachio, 2022. "Negative externalities of long-term vacant homes: Evidence from Japan," Journal of Housing Economics, Elsevier, vol. 57(C).

    More about this item

    JEL classification:

    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns

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