THE EFFECT OF THE WASHINGTON METRO ON URBAN PROPERTY VALUES

As with other forms of urban infrastructure, public mass transit systems can alter the spatial distribution of urban property values. The magnitude of this effect is likely to be highly parcel-specific, and changes in real estate values may occur both prior to and after a transit system's construction. The report describes a series of econometric models of real estate values estimated for parcels in Washington, DC., over the period of the Metro system's development. Separate models are estimated for single family dwellings, multi-family structures and retail stores. Access to the transit system and the implementation schedule of Metro are both found to be significant determinants of parcel transaction prices. Studies of five separate transit stations are described. For each case study, results and forecasts of property value changes under different conditions are given.

  • Corporate Authors:

    Massachusetts Institute of Technology

    Center for Transportation Studies, Room 1121
    Cambridge, MA  USA  02139

    Transportation Systems Center

    55 Broadway, Kendall Square
    Cambridge, MA  USA  02142
  • Authors:
    • Lerman, S R
    • DAMM, D
    • Lerner-Lamm, E
    • Young, J
  • Publication Date: 1978-7

Media Info

  • Pagination: 135 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00192212
  • Record Type: Publication
  • Source Agency: National Technical Information Service
  • Report/Paper Numbers: CTS-77-18 Final Rpt., UMTA-MA-11-0004-79-1
  • Files: NTIS, TRIS
  • Created Date: Jul 11 1981 12:00AM