Browsing by Subject "Rental market"
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Item The impact of light rail transit on residential rental market : case study of Dallas Area Rapid Transit(2016-08) Haque, Antora Mohsena; Zhang, Ming, 1963 April 22-; Wegmann, JakeThis research was undertaken to quantify the relationship between residential rent and proximity to light rail transit in Dallas, an auto-oriented city. This correlation is of importance to real estate developers and transportation planners as they seek to make the most efficient use of developable land and to decide on the allocation of funding for future transportation projects. This study shows that proximity to DART rail stations is associated with residential rent up to half mile radius area of the stations. Hedonic regression models in simple Ordinary Least Squares (OLS) and semi log form were used for the analysis. The semi log model showed that light rail stations have the strongest relationship with rent in the 0.1 mile to 0.2 mile distance buffer, where the rent/sq. ft. is 20.92% higher than for units between 0.4 and 0.5 miles distance from stations. After 0.2 miles distance from the stations, the rent starts to drop and continues to go down till 0.5 miles distance from a station. The simple OLS model showed similar results and according to this model within 0.1 to 0.2 mile buffer area the rent is 27.6 cents/sq. ft. higher than the rent/sq. ft. in the 0.4 to 0.5 mile buffer area. This result will help to manage the extent of investment in light rail in Dallas in the future.Item The rise of the millennial cohort : a case study of the effects on San Francisco’s rental housing market(2015-05) Garcia, Jessica Christina; Wegmann, Jake; Mueller, ElizabethThis report studies the rise of the millennial cohort and the effects an influx of young people may be having on San Francisco’s rental housing stock. This cohort is the largest since the Baby Boom generation. With delayed household formation in the wake of the economic recession, they are only now beginning to express their household preferences that have thus far proven to be unconventional compared to those of prior generations. Instead of buying homes in the suburbs, many are moving toward urban centers where they can live close to work and play. In the media, millennials have been stigmatized for causing gentrification as they move into once affordable working class neighborhoods. Many move to these neighborhoods for their cultural vibrancy but end up being blamed for displacing those who created it. San Francisco prior to the millennial trend had already had its own unique affordable housing challenges and has always been one of the most expensive cities in the country. However in recent years, housing costs have skyrocketed. There are many pieces to the puzzle but this report will research what possible pressures the millennial cohort may be having on San Francisco’s most recent wave of gentrification. If the case is significant, it could provide insight in finding much needed solutions to San Francisco’s affordable housing problem.