Residential property values and neighborhood retail : a comparison of pedestrian and automobile oriented retail clusters

This study tests the hypothesis that home buyers pay a premium to live within walking distance of pedestrian accessible retail. To answer this question two types of retail clusters are identified in the Boston metropolitan area-pedestrian oriented and automobile oriented--and comparisons are made between their effects on surrounding residential property values. Hedonic regression analysis reveals price gradients which vary depending on retail form, regional location and home type. In particular, walkable centers appear to be more appreciated in inner-suburban locations and among condominium buyers. Interestingly, automobile oriented retail clusters are found to not significantly affect the values of proximate single family homes.

Department dc:contributor.department

Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2006

Author dc:creator

• Tiffany, Thacher

Advisor dc:contributor.advisor

• Lynn Fisher.

• Urban Studies and Planning.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/37478

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/37478