TIME-SERIES EFFECTS OF A LIMITED-ACCESS HIGHWAY ON RESIDENTIAL PROPERTY VALUES

The purpose of this paper is to illustrate use of a method for constructing property value price indexes to assess the effects over time of a limited-access highway on residential property values. The community of North Springfield, Virginia, which is bisected by I-495, was selected for study. Each property was initially categorized as being in the abutting, impact, or nonimpact zone, depending on its distance from the highway. A multiple regression procedure incorporating sale and resale values of properties from 1962 to 1972 was used to construct 3 separate time series of index numbers (one for each property category). For each year in the relevant period, differences among the index numbers were tested statistical significance. The comparisons for the year 1962 to 1969 did not indicate any significant differences among index numbers. For 1970 to 1972, however, properties nearer the highway generally exhibited index numbers that were significantly lower than those of more distant properties. In terms of effects on property values, the study conclusively showed that, during the more recent years of the time series, North Springfield properties located in proximity to the highway failed to increase in value at rates equal to those of properties located farther from the highway.

• Record URL:
  • http://onlinepubs.trb.org/Onlinepubs/trr/1976/583/583-004.pdf
• Summary URL:
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• Supplemental Notes:
  • Publication of this paper sponsored by Committee on Social, Economic, and Environmental Factors of Transportation. Distribution, posting, or copying of this PDF is strictly prohibited without written permission of the Transportation Research Board of the National Academy of Sciences. Unless otherwise indicated, all materials in this PDF are copyrighted by the National Academy of Sciences. Copyright © National Academy of Sciences. All rights reserved.
• Authors:
  • Langley Jr, C John
• Conference:
  • 54th Annual Meeting of the Transportation Research Board
  • Location: Washington District of Columbia
  • Date: 1975-1-13 to 1975-1-17
• Publication Date: 1976

Media Info

• Media Type: Print
• Features: Figures; References; Tables;
• Pagination: pp 36-44
• Monograph Title: Social, Economic, and Environmental Implications in Transportation Planning
• Serial:
  • Transportation Research Record
  • Issue Number: 583
  • Publisher: Transportation Research Board
  • ISSN: 0361-1981

Subject/Index Terms

• TRT Terms: Freeways; Location; Multiple regression analysis; Prices; Property values; Residential areas; Residential location; Time series
• Geographic Terms: Virginia
• Old TRIS Terms: Multiple regression
• Subject Areas: Economics; Highways; Society;

Filing Info

• Accession Number: 00141406
• Record Type: Publication
• ISBN: 0309024978
• Report/Paper Numbers: Conf Paper
• Files: TRIS, TRB
• Created Date: Nov 3 1976 12:00AM