Rail station access and housing market resilience: Case studies of Atlanta, Baltimore and Portland

Timothy F. Welch, Steven R. Gehrke, Steven Farber

Research output: Contribution to journalArticlepeer-review

3 Scopus citations

Abstract

The recent United States housing market crisis resulted in a significant decline in housing market values. Yet, the extent to which urban amenities such as rail stations moderated the market impacts has not been entirely recognised. This study undertakes a repeat sales analysis to understand the impact of station proximity on housing values before, during and after the market crisis. Specifically, a housing price resilience index assesses market changes from 2002 to 2013 for single-family and multifamily homes within a quarter of a mile, half a mile, one mile and greater distances from the nearest rail station. The analysis is replicated in three cities: Atlanta, Georgia; Baltimore, Maryland; and Portland, Oregon. Although the recession had significant negative impacts on properties in each city, our study finds that access played a critical role in helping transit-orientated submarkets retain their value throughout the recession and recover value at a faster rate than homes without convenient fixed transit access.

Original languageEnglish (US)
Pages (from-to)3615-3630
Number of pages16
JournalUrban Studies
Volume55
Issue number16
DOIs
StatePublished - Dec 1 2018
Externally publishedYes

Keywords

  • housing sales
  • price resiliency
  • rail stations
  • repeat sales analysis
  • transit accessibility

ASJC Scopus subject areas

  • Environmental Science (miscellaneous)
  • Urban Studies

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