Urban Location and Housing Prices within a Hedonic Model

A measure of location relative to employment is often included in hedonic housing price models. This is most often distance to the center, based on the monocentric model, which does not consider the decentralization of employment in urban areas. This paper tests the perfor-mance of alternative measures of location, considering both distance and time to the center and to multiple employment centers and measures of accessibility to employment and change in accessibility. The measures using multiple employment centers and accessibility perform better than simple distance to the center, with the combination of accessibility to employment and change in accessibility doing best.


Issue Date:
2008
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/132338
Published in:
Journal of Regional Analysis and Policy, Volume 38, Issue 1
Total Pages:
17




 Record created 2017-04-01, last modified 2017-08-26

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)