The Impacts of SEPTA Regional Rail Service on Suburban House Prices

The purpose of this report is to utilize data on recent house transactions together with Southeastern Pennsylvania Transportation Authority (SEPTA) Regional Rail service data to ascertain the incremental value of being located near a rail transit station or a regional rail station. This will update earlier studies that have quantified the price premium of houses with high access to Regional Rail stations in the four suburban counties of southeastern Pennsylvania. Provoked by rising gas prices, quality of life concerns and demographic changes, recognition has been growing regarding the community benefit that is provided by access to public transit. House prices indicate the degree to which public transit access, such as access to Regional Rail stations, offers benefits that may include reduced travel time and costs, and enhanced accessibility. Considering the finite supply of housing and residential buildings located near rail transit stations, economic theory suggest that those people who value access to public transit (and the benefits it provides) will bid up the home prices of those houses that are located near rail transit stations.

Language

  • English

Media Info

  • Media Type: Digital/other
  • Features: References; Tables;
  • Pagination: 10p

Subject/Index Terms

Filing Info

  • Accession Number: 01495871
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Oct 18 2013 5:01PM