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| Owusu-Edusei, Kwame; Espey, Molly. |
| This study estimates the impact of school quality on property values within the city limits of Greenville, South Carolina. This study differs from others in its use of a relative, rather than an absolute measure of school quality. We apply a hedonic pricing model to estimate the impact of K-12 rankings on the real constant-quality housing values. Based on 3,731 housing transactions carried out from 1994 to 2000, our results suggest that those who choose to live within the city limits of the study pay a premium to live in high quality school attendance areas. Therefore, high-ranked schools have values capitalized into single-family house prices. Further, greater distance to assigned K-12 schools has a negative impact on the value of the property. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Land Economics/Use. |
| Ano: 2003 |
URL: http://purl.umn.edu/18809 |
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| Espey, Molly; Owusu-Edusei, Kwame. |
| The effect on housing prices of proximity to different types of parks is estimated using a unique data set of single-family homes sold between 1990 and 1999 in Greenville, South Carolina. While the value of park proximity is found to vary with respect to park size and amenities, the estimates from this study are larger than previous studies. The greatest impact on housing values was found with proximity to small neighborhood parks, with the positive impact of proximity to both small and medium-size parks extending to homes as far as 1500 feet from the park. |
| Tipo: Journal Article |
Palavras-chave: Hedonic valuation; Open space; Urban parks; Value of parks; Land Economics/Use. |
| Ano: 2001 |
URL: http://purl.umn.edu/15446 |
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| Owusu-Edusei, Kwame; Espey, Molly. |
| In this study, we augment an earlier study by estimating the effect of golf courses on housing values using a data set of single-family homes sold between 1994 and 2000. We find that there is generally a positive impact on houses proximate to open space (golf courses and neighborhood parks). The value of proximity to a golf course is found to be greater than figures reported in previous studies. Proximity impacts extend beyond abutting properties and go as far as to those within almost a quarter of a mile. The value of properties proximate to parks is found to be significant and varies with park size and type. Parks classified as small and medium had positive impacts extending over a quarter of a mile with the small parks having the greatest impact on... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Land Economics/Use. |
| Ano: 2003 |
URL: http://purl.umn.edu/18812 |
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| Owusu-Edusei, Kwame; Espey, Molly; Lin, Huiyan. |
| This study jointly estimates the impact of school quality and school proximity on residential property values in Greenville, South Carolina. While quality is found to be capitalized into residential property values, the degree of capitalization depends on school level and proximity to each school for which the house is zoned for attendance. In general, there is positive value associated with closer proximity to schools of all levels, and negative value associated with a significantly longer than average distance to schools. In terms of quality rankings, excellence at the elementary and high school levels has the strongest impact on property values. |
| Tipo: Journal Article |
Palavras-chave: Hedonics; Park proximity; School proximity; School quality; Land Economics/Use; I21; O18; R21. |
| Ano: 2007 |
URL: http://purl.umn.edu/6609 |
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| Espey, Molly; Owusu-Edusei, Kwame. |
| The effect of proximity to different types of parks on housing prices is estimated using a unique data set of single family homes sold between 1990 and 1999 in Greenville, South Carolina. The value of park proximity is found to vary with respect to park size and amenities, as well as household income and family size. The greatest impact on housing values was found with proximity to small neighborhood parks, with property values as much as 13 percent higher for homes within 600 feet of such parks. The positive impact of proximity to attractive medium size parks extended to homes as far as 1500 feet from the park. The value of park proximity increases with family size and is greater, as a percentage of housing value, for households with income below the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2001 |
URL: http://purl.umn.edu/20711 |
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