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.

Media Info

  • Media Type: Print
  • Features: Figures; References; Tables;
  • Pagination: pp 36-44
  • Monograph Title: Social, economic and environmental implications in transportation planning
  • Serial:

Subject/Index Terms

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