MODELING MASS TRANSIT ON URBAN LAND VALUES
In this effort to develop a multiple regression model for the study of the impact of mass transit on proximate land values, the major concepts which provide the basis for the model are first examined. These concepts include the land value and mass transit gradients. The property value model and the concept of housing and housing value are also detailed. The model formulated recognizes the relationship between property value and transportation costs. The impact of mass transit on property values represents the capitalization of the reductions in travel costs (travel savings) afforded by a new transportation alternative, and therefore is a function of proximity of the improvement and to the CBD. The model provides for 4-fold improvement over similar models currently in use: the property value gradient is derived from empirical estimations; two property value gradients (the traditional value gradient to the CBD; and the mass transit gradient which is more sensitive to transportation improvements) were incorporated into the model; a residualization process was applied to control multi-collinearity by adjusting the effects of intercorrelation among the independent variables; a statistical method was employed to hold constant the factors that might effect property values other than the transportation improvement.
University of Iowa, Iowa CityInstitute of Urban and Regional Research
Iowa City, IA USA 52242
- Koutsopoulos, K C
- Publication Date: 1976-2
- Pagination: 29 p.
- TRT Terms: Central business districts; Economics; Housings; Impact studies; Improvements; Land use; Land values; Mathematical models; Multiple regression analysis; Public transit; Transportation; Urban areas
- Uncontrolled Terms: Models
- Old TRIS Terms: Multiple regression
- Subject Areas: Administration and Management; Economics; Planning and Forecasting; Transportation (General);
- Accession Number: 00157192
- Record Type: Publication
- Report/Paper Numbers: Tech Report No. 67
- Files: TRIS
- Created Date: Feb 16 1981 12:00AM