Impact of Heavy-rail-based Rapid Transit on House Prices: Evidence from the Fremont, CA, Warm Springs BART Extension Project
Document Type
Journal Article
Publication Date
2023
Subject Area
place - north america, place - urban, mode - rail, economics - willingness to pay, land use - impacts
Keywords
spatial analysis, spatial econometrics, transitt, transportation, hedonic regression, rapid transit, heavy rail
Abstract
This study estimates households’ willingness to pay for single-family houses and condominiums/townhouses located within 2 miles of Warm Springs (WS) BART Station in Fremont, CA. The study finds that, compared to the houses sold in the control distance band (2–5 miles away), an average-priced single-family house within 2 miles of the WS BART Station was higher in price by 9 to 15 percent. The total property value increment for the single-family houses is large enough to fund the $802 million Warm Springs BART Extension Project cost five times over.
Rights
Permission to publish the abstract has been given by SAGE, copyright remains with them.
Recommended Citation
Mathur, S. (2023). Impact of heavy-rail-based rapid transit on house prices: evidence from the fremont, CA, warm springs BART extension project. Journal of Planning Education and Research, 43(3), 550-569.
