ADVERSE IMPACTS OF THE WASHINGTON BELTWAY ON RESIDENTIAL PROPERTY VALUES

This paper presents the results of a study conducted to determine whether the behavior over time of the transaction values of properties located near I-495 (the Washington Beltway) was significantly different from the behavior of the values of properties not in such proximity. The study are was North Springfield, Virginia, where properties abutting I-495 decreased in value in 1970 by an average of $1,518, while increased regional accessibility provided by the highway accounted for an increase of $2,950 in the an increase in value of $1,432 based on 1970 data. The years selected for study were 1962, the first full year in which the portion of I-495 bisecting North Springfield was opened to traffic, and 1972. Two conclusions from the study were (1) North Springfield residential properties located in proximity to I-495 show a tendency to increase in value at a rate significantly less than those more distant from the highway; and (2) the most recent year for which the above phenomenon may be statistically validated is 1970. A description of the research methodology is included in the paper.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/00237639
• Corporate Authors:

  University of Wisconsin Press

  Journals Department 129, Box 1379
  Madison, WI  United States  53701
• Authors:
  • Langley Jr, C J
• Publication Date: 1976-2

Media Info

• Features: References; Tables;
• Pagination: p. 54-65
• Serial:
  • Land Economics
  • Volume: 52
  • Issue Number: 1
  • Publisher: University of Wisconsin Press
  • ISSN: 0023-7639

Subject/Index Terms

• TRT Terms: Land values; Present value; Real property; Residential areas; Road construction
• Uncontrolled Terms: Value
• Subject Areas: Economics; Highways; Society;

Filing Info

• Accession Number: 00131052
• Record Type: Publication
• Files: TRIS
• Created Date: Apr 21 1976 12:00AM