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Title: The Rent Gap at the Metropolitan Scale: New York City's Land-Value Valleys, 1990-2006

Citation Type: Journal Article

Publication Year: 2010

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Abstract: In his rent gap theory, Neil Smith argues that development is most likely to occurin areas where the capitalized land rents differ substantially from the potential ground rents thatcould be obtained if the land were converted to its highest and best use. At the metropolitanscale, the rent gap appears in the form of abberations vis--vis the monotonically decreasingrent gradients of the classic monocentric city. This study utilizes public use microdata sample(PUMS) data for 1990, 2000, and 2006 to test Smiths hypothesis that as capital flows into theseland-value valleys, the rent gradient shifts upward and outward, displacing the land-value valleyfarther from the CBD. It is concluded that from 1990 to 2006 there were two visible land-valuevalleys, and, consistent with Smiths hypothesis, as the first valley closed the second expanded.

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Authors: Porter, Michael

Periodical (Full): Urban Geography

Issue: 3

Volume: 31

Pages: 385-405

Data Collections: IPUMS USA

Topics: Housing and Segregation, Other

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