EFFECTS OF THOROUGHFARES ON RESIDENTIAL AND COMMERCIAL VALUES IN TWO CITIES

The objectives of this study were (1) to gauge benefits in the way property values relate to highways and radial thoroughfares in metropolitan Baltimore, (2) to compare these results specifically to studies done in Philadelphia, Portland, Oregon, and other locations as mentioned in the literature, and (3) to detect and describe property valuation patterns for main highways through Maryland's Lower Eastern Shore. The project involved multiple regression analysis (an hedonic model) to determine the presence and nature of apartment price gradients within the Baltimore Metropolitan area. Descriptive statistical analysis of recent sales of apartments and commercial properties on Maryland's Lower Eastern Shore was also conducted. Baltimore County apartment real estate prices decreased with distance from 11 radial thoroughfares. No price gradient was found relating apartment prices with distance to the Baltimore Beltway. Impacts of recent road widening of the radial thoroughfares were not found. Otherwise, properties in the rural area of Maryland's Lower Eastern Shore were found to cluster near the three main highways and the towns consistent with general access to these features.

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• Record URL:
  https://rosap.ntl.bts.gov/view/dot/31216
• Supplemental Notes:
  • This research was sponsored by a grant from the U.S. Department of Transportation, University Transportation Centers Program.
• Corporate Authors:

  Morgan State University

  National Transportation Center, 1700 East Cold Spring Lane
  Baltimore, MD  United States  21251

  Maryland Department of Transportation

  State Highway Administration, 707 N Calvert Street
  Baltimore, MD  United States  21202
• Authors:
  • Carter, C C
  • Farkas, Z A
• Publication Date: 2003-10

Language

• English

Media Info

• Features: Figures; References; Tables;
• Pagination: 38 p.

Subject/Index Terms

• TRT Terms: Commercial strips; Highways; Multiple regression analysis; Prices; Property values; Radial highways; Real property; Residential areas; Statistical analysis
• Uncontrolled Terms: Apartment prices
• Geographic Terms: Baltimore (Maryland); Eastern Shore (Maryland and Virginia); Philadelphia (Pennsylvania); Portland (Oregon)
• Subject Areas: Data and Information Technology; Economics; Highways; Society; I10: Economics and Administration;

Filing Info

• Accession Number: 00964959
• Record Type: Publication
• Report/Paper Numbers: MD-SP208B4L-03,, Final Report,, MSU 0102-012
• Files: UTC, TRIS, STATEDOT
• Created Date: Oct 28 2003 12:00AM