Browsing by Subject "Property values"

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Documentation and preliminary analysis of property values surrounding Austin's commuter rail stations
(2007-05) Coburn, Chad; Zhang, Ming, 1963 April 22-
Commuter rail infrastructure often adds value to neighboring properties. The best methods to measure changes in values require baseline data from a year prior to system implementation. The current planning of a commuter rail in Austin, TX presents the need to document property values for future studies. The report records 2005 property values from Travis and Williamson Central Appraisal Districts, using GIS to group the data by various distances away from the proposed train stations. In addition, a large set of secondary improvement data and census demographic information about each site has been accumulated. Future researchers will be able to conduct matched-pair and multivariable regression models with the data, and rely on the station descriptions for a solid understanding of the sites and their relationships.
Light rail impacts on property values : analyzing Houston's METRORail
(2011-05) Campbell, Elizabeth Cochrane; Zhang, Ming, 1963 Apr. 22-; Kahn, Terry D.
Light rail transit (LRT) systems are tools to help reduce traffic congestion and air pollution, promote high-density development and more affordable housing, and curtail urban sprawl in metropolitan cities throughout the United States. The impact of transit system services on property values has been studied from various perspectives using many statistical approaches. There are two general categories of effects that proximity to a light rail system can have on the value of residential properties: accessibility benefits (experienced in close proximity to the LRT stations) might increase property values, while nuisance qualities (experienced in both proximity to the LRT line and stations) could have a negative effect on residential property values. Due to the opposing nature of these coexisting effects, results from many empirical studies have been contradictory or inconclusive. This report reviews the spectrum of results found by the growing body of literature focusing on the capitalization effects of rail stations on property values. The economic effect of one particular LRT system, the 7.5 mile long METRORail line located in Houston, Texas, on the value of properties within close proximity to rail stations has not been thoroughly examined, as it only opened for service in 2004. This study utilizes property data acquired from the Harris County Appraisal District (HCAD), Geographic Information System (GIS) techniques, and Hedonic Price Models to analyze the impact of the LRT system in the city of Houston, Texas, on the value of residential properties that lie within close proximity to the line’s rail stations.