Traffic congestion, accessibility to employment, and housing prices: A study of single-family housing market in Los Angeles County

Urban Studies ◽  
2016 ◽  
Vol 54 (15) ◽  
pp. 3423-3445 ◽  
Author(s):  
Yuting Hou
Keyword(s):  
Los Angeles ◽  
Traffic Congestion ◽  
Housing Prices ◽  
House Price ◽  
Hedonic Price ◽  
Single Family ◽  
Middle Income ◽  
Family House ◽  
Marginal Price ◽  
Congestion Effects

This study mainly addresses two main questions: (1) whether traffic congestion negatively affects single-family house price by constraining accessibility to jobs; (2) whether congestion effects and accessibility effects vary by income groups within a metropolitan area. This study uses a multilevel hedonic price model to estimate the marginal price of accessibility while controlling for other neighbourhood attributes and the correlation of proximal housing sales. The congestion effects are identified by comparing the implicit price of accessibility between congested-flow and free-flow. The results show that the accessibility measured with congested time yields higher marginal price, suggesting that households are willing to pay more to avoid locations with high congestion delays and accessibility loss. The results also suggest that accessibility effects are more valued by homebuyers in middle-income neighbourhoods, compared with those in the lowest or highest income neighbourhoods.

The Worst of All Worlds

2005 ◽  
Vol 1902 (1) ◽  
pp. 1-9 ◽  
Author(s):  
Eric Eidlin
Keyword(s):  
Los Angeles ◽  
Population Density ◽  
Travel Behavior ◽  
Traffic Congestion ◽  
Population Distribution ◽  
Housing Prices ◽  
The United States ◽  
Urban Life ◽  
Apparent Paradox ◽  
Gini Coefficients

Los Angeles, California, is generally considered the archetypal sprawling metropolis. Yet traditional measures equate sprawl with low population density, and Los Angeles is among the densest and thereby the least sprawling cities in the United States. How can this apparent paradox be explained? This paper argues that the answer lies in the fact that Los Angeles exhibits a comparatively even distribution of population throughout its urbanized area. As a result, the city suffers from many consequences of high population density, including extreme traffic congestion, poor air quality, and high housing prices, while offering its residents few benefits that typically accompany this density, including fast and effective public transit, vibrant street life, and tightly knit urban neighborhoods. The city's unique combination of high average population density with little differentiation in the distribution of population might best be characterized as dense sprawl, a condition that embodies the worst of urban and suburban worlds. This paper uses Gini coefficients to illustrate variation in population density and then considers a number of indicators–-most relating either to the provision of transportation infrastructure or to travel behavior–-that demonstrate the effects of low-variation population distribution on the quality of urban life in Los Angeles. This approach offers researchers, practitioners, and policy makers in Los Angeles and in smaller cities that are evolving in similar ways a useful and user-friendly tool for identifying, explaining, measuring, and addressing the most problematic aspects of sprawl.

Fast Geographically Weighted Regression (FastGWR): a scalable algorithm to investigate spatial process heterogeneity in millions of observations

2019 ◽  
Vol 33 (1) ◽  
pp. 155-175 ◽  
Author(s):  
Li ◽  
Fotheringham ◽  
Li ◽  
Oshan
Keyword(s):  
Los Angeles ◽  
Open Source ◽  
Geographically Weighted Regression ◽  
Message Passing Interface ◽  
House Price ◽  
Weighted Regression ◽  
Spatial Process ◽  
Parameter Estimates ◽  
Single Family ◽  
Scalable Algorithm

Geographically Weighted Regression (GWR) is a widely used tool for exploring spatial heterogeneity of processes over geographic space. GWR computes location-specific parameter estimates, which makes its calibration process computationally intensive. The maximum number of data points that can be handled by current open-source GWR software is approximately 15,000 observations on a standard desktop. In the era of big data, this places a severe limitation on the use of GWR. To overcome this limitation, we propose a highly scalable, open-source FastGWR implementation based on Python and the Message Passing Interface (MPI) that scales to the order of millions of observations. FastGWR optimizes memory usage along with parallelization to boost performance significantly. To illustrate the performance of FastGWR, a hedonic house price model is calibrated on approximately 1.3 million single-family residential properties from a Zillow dataset for the city of Los Angeles, which is the first effort to apply GWR to a dataset of this size. The results show that FastGWR scales linearly as the number of cores within the High-Performance Computing (HPC) environment increases. It also outperforms currently available open-sourced GWR software packages with drastic speed reductions – up to thousands of times faster – on a standard desktop.

scholarly journals Effects of Light and Commuter Rail Transit on Land Prices: Experiences in San Diego County

2010 ◽  
Author(s):  
Robert Cervero
Keyword(s):  
Traffic Congestion ◽  
San Diego ◽  
San Diego County ◽  
Land Values ◽  
Light Rail ◽  
Hedonic Price ◽  
Single Family ◽  
Multifamily Housing ◽  
The North ◽  
Commuter Rail

Using hedonic price models, appreciable land-value premiums were found for multiple land uses in different rail corridors of San Diego County. The most appreciable benefits were for condominiums and single-family housing near commuter-rail stations in the north county, multifamily housing near light-rail stations, and commercial properties near downtown commuterrail stations and light-rail stops in the Mission Valley. Elsewhere, commercial properties accrued small or even negative capitalization benefits. Pro-development policies, worsening traffic congestion, and a generally healthy economy are thought to have generally boosted land values in San Diego County, though impacts are corridor- and land-use specific.

The association between residential housing prices, bicycle infrastructure and ridership volumes

Urban Studies ◽  
2020 ◽  
pp. 004209802092603
Author(s):  
Lindsey Conrow ◽  
Siân Mooney ◽  
Elizabeth A Wentz
Keyword(s):  
Traffic Congestion ◽  
Housing Prices ◽  
Property Tax ◽  
Single Family ◽  
Sale Price ◽  
Residential Housing ◽  
Local Public Finance ◽  
Bicycle Infrastructure ◽  
Home Values ◽  
The Relationship

City officials and planners have shown increased interest in pedestrian- and bicycle-friendly designs aimed at addressing urban problems such as traffic congestion, pollution, sprawl and housing availability. An important planning consideration is the economic impact associated with existing or planned infrastructure, especially in relation to home property values. In this study, we use measures of infrastructure and ridership to evaluate the relationship between bicycling infrastructure and activity and single-family home values in Tempe, Arizona. We apply a hedonic modelling approach and find that bicycle infrastructure density is positively associated with home sale price, while ridership density around home locations has no significant relationship with sale price. Our results inform discourse related to the potential economic values of residential bicycle infrastructure, especially in areas where property tax is a source of local public finance revenue. We show that the characteristics of bicycle-friendly design may be the same characteristics valued by homebuyers and the resulting increased home sale values may lead to increased property tax revenue in Tempe, Arizona.

scholarly journals The House Price Dynamics and the Macro-Economy: an Empirical Perspective of UAE

2019 ◽  
Vol 2 (1) ◽  
pp. 28-33
Author(s):  
Yahya Hamad Al Zaabi ◽  
Genanew Bekele
Keyword(s):  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Housing Price ◽  
Future Research ◽  
Hedonic Price ◽  
Policy Makers ◽  
Empirical Perspective ◽  
House Condition ◽  
Internal And External Factors

Objective: The paper aims to examine house price drivers in Dubai, addressing the effect of internal and external factors afecting house prices   Design/methedology/approach: Using the Hedonic price model, the study examined the implications of house size (space), the availability of bathrooms, bedrooms, waterfronts, and pool and cell phone towers within residential area as auxiliary determinant factors to housing price within developed cities by using the Hedonic Modelling. Also, study highlight the effect of the green strategies that been followed by developer on the housing prices.   Findings: The study is expected to reveal results with significant ramifications for researchers, practitioners and policy makers. From a policy perspective, there is an obvious interest in understanding whether the price of housing is affected by different attributes differently along its distribution.   Research limitations/implications: The data used in this study could be limited, and depends on information to be provided by the Dubai Land Department. There is a room for future research to include more data (such as on other house attributes such as house condition, plot numbers and configuration).

scholarly journals Our Car Culture Is Not a Problem

2016 ◽  
Vol 6 (1) ◽  
pp. 58-64
Author(s):  
Colin Marshall
Keyword(s):  
World War Ii ◽  
Los Angeles ◽  
Southern California ◽  
Single Family ◽  
World War ◽  
Residential Architecture ◽  
Car Culture ◽  
Single Use ◽  
Family House

The author tells of how he once loved the Case Study houses, commissioned from several modern architects by Arts & Architecture magazine in the years after World War II with the goal of developing a new style of housing in southern California, and why he eventually came to see those houses as part of what holds Los Angeles and other Californian cities back from classically urban levels of density and functionality. He argues that the “house culture” instilled by the Case Study houses and other single-use, single-family-house-oriented forms of residential architecture have caused more problems for the Californian city than even its oft-criticized “car culture.”

Spatio-Temporal Hedonic Price Model to Investigate the Dynamics of Housing Prices in Contexts of Urban Form and Transportation Services in Toronto

2018 ◽  
Vol 2672 (6) ◽  
pp. 21-30 ◽  
Author(s):  
Jason Hawkins ◽  
Khandker Nurul Habib
Keyword(s):  
Urban Form ◽  
Housing Stock ◽  
Housing Prices ◽  
Housing Price ◽  
Central Business District ◽  
Hedonic Price Model ◽  
Hedonic Price ◽  
Single Family ◽  
Price Model ◽  
Spatio Temporal

A spatio-temporal hedonic price model is developed for the Greater Toronto area to examine the effects of urban configurations and proximity to transit services on housing price. A spatial Durbin panel model is utilized to account for both spatial and temporal autocorrelation. This model is shown to have advantages through its ability to reduce the number of explanatory variables required to obtain a strong fit with empirical data. Analysis is completed for the period of 1996 to 2017 and distinctions are made in housing stock between single-family houses, townhouses, and condominiums. It is shown that heterogeneities exist between the hedonic representations of each dwelling type and that separate models should be employed for each. In all cases, the average income of the community, its distance to the central business district (CBD), and population and employment density are found to be significant factors in the determination of price.

scholarly journals SMART GROWTH AND THE CHALLENGE OF NIMBY: MULTIFAMILY DWELLINGS AND THEIR ASSOCIATION WITH SINGLE-FAMILY HOUSE SELLING PRICES IN TALLAHASSEE, FLORIDA, USA

2020 ◽  
Vol 5 (1) ◽  
Author(s):  
Huston GIBSON ◽  
Mathew BECKER
Keyword(s):  
Housing Prices ◽  
Smart Growth ◽  
Cross Sectional Study ◽  
Single Family ◽  
Multifamily Housing ◽  
Cross Sectional ◽  
Leon County ◽  
Study Population ◽  
Family Housing ◽  
Family House

Citizens protest development when they consider it undesirable. One type of development commonly perceived as undesirable by single-family home owners is proximate multifamily housing, often considered a cause of property devaluation. This study assesses multifamily housing, by typology, and its monetary association with proximate single-family housing prices. The research design is a cross-sectional study using multivariate regression. The unit of analysis is the detached single-family dwelling. The study population is a sample taken from all arms-length owner-occupied, primary residence, detached single-family property transactions recorded in Tallahassee-Leon County, Florida, USA, during 2008. The key findings show no statistically significant negative associations between multifamily housing and single-family property selling prices in the sample; in fact, the two were positively correlated. These findings address single-family homeowner concerns about proximate multifamily housing and should bolster the political feasibility of Smart Growth policy, which recommends denser urban infill.

International Real Estate Review

2011 ◽  
Vol 14 (1) ◽  
pp. 118-129
Author(s):  
Todd Henry Kuethe ◽  
Keyword(s):  
Real Estate ◽  
Predictive Accuracy ◽  
House Prices ◽  
House Price ◽  
Geographic Area ◽  
Repeat Sales ◽  
Hedonic Price ◽  
Single Family ◽  
Spatial Econometric ◽  
Econometric Methods

This study evaluates the ability of a range of popular aggregate house price indexes to predict house prices out-of- sample at the transaction level for a small geographic area. The analysis particularly addresses the utility of spatial econometric methods. The results suggest that spatial econometric methods, which more explicitly consider the spatial aspects of observed house prices, provide better predictive accuracy as compared to more traditional estimation techniques, such as the repeat sales index, a hybrid repeat sales-hedonic price index, and hedonic price models estimated through least squares. The conclusions are drawn from a sample of 38,984 single-family residential real estate transactions for the city of Milwaukee, Wisconsin over the years 2002-2008.

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