The Impact of Transportation Savings on Suburban Residential Property Values.

Richard R. Mudge

Expert InsightsPublished 1974

A simple theoretical model of the spatial impact of transportation savings on property values is developed and then tested empirically by analyzing the new Philadelphia-Lindenwold rapid transit line. An extensive database, consisting of all residential property transactions in the impact corridor and an adjacent control corridor over a seven-year period, is used in several multiple regression models as well as some simpler analyses. Results indicate that (1) the Lindenwold Line did have a significant impact on residential property values, as indicated by the travel-savings model, (2) there was very little anticipation by the real estate market of the start of the Line, (3) the impact is more apparent in lower-income neighborhoods, and (4) the increase in property values in the impact corridor appears to be compensated by a relative decrease in values in an adjacent control corridor. 58 pp. Bibliog.

Document Details

  • Copyright: RAND Corporation
  • Availability: Web Only
  • Year: 1974
  • Pages: 58
  • Document Number: P-5259

Citation

Chicago Manual of Style

Mudge, Richard R., The Impact of Transportation Savings on Suburban Residential Property Values. Santa Monica, CA: RAND Corporation, 1974. https://www.rand.org/pubs/papers/P5259.html.
BibTeX RIS

This publication is part of the RAND paper series. The paper series was a product of RAND from 1948 to 2003 that captured speeches, memorials, and derivative research, usually prepared on authors' own time and meant to be the scholarly or scientific contribution of individual authors to their professional fields. Papers were less formal than reports and did not require rigorous peer review.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

RAND is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.