Full Citation

Title: Interjurisdictional housing prices and spatial amenities: Which measures of housing prices reflect local public goods?

Citation Type: Journal Article

Publication Year: 2013

ISBN:

ISSN:

DOI: 10.1016/J.REGSCIURBECO.2013.03.006

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Abstract: Understanding the spatial variation in housing prices plays a crucial role in topics ranging from the cost of living to quality-of-life indices to studies of public goods and household mobility. Yet analysts have not reached a consensus on the best source of such data, variously using transaction values, self-reported values from the census, and rental values. Additionally, while most studies use micro-level data, some have used summary statistics such as the median housing value. Assessing community housing price indices in Los Angeles, we find that indices based on transaction prices are highly correlated with indices based on self-reported values, but that the former are better correlated with public goods. Moreover, rental values have a higher correlation with public goods and income levels than either asset-value measure. Finally, indices based on median values are poorly correlated with the other indices, public goods, and income.

Url: https://www.sciencedirect.com/science/article/pii/S016604621300029X

User Submitted?: No

Authors: Banzhaf, H. Spencer; Farooque, Omar

Periodical (Full): Regional Science and Urban Economics

Issue: 4

Volume: 43

Pages: 635-648

Data Collections: IPUMS USA

Topics: Housing and Segregation, Other

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