Urban decline and residential preference: The effect of vacant lots on housing premiums Academic Article

abstract

• Vacant land is a ubiquitous urban phenomenon. The existence of vacant land in a neighborhood can either lower or heighten nearby housing values, depending on its relative development potential. However, this condition has rarely been examined longitudinally, nor has it been examined thoroughly across different socioeconomic conditions. This research examines the impact of vacant lots on housing premiums using 20062015 single-family home sale transactions in the City of Minneapolis, Minnesota. The study area was divided into low-, middle-, and high-income levels. The results show that vacant lands have negative impacts on nearby single-family houses and these impacts differ by income level per neighborhood. The study sheds light on how planners and researchers should conceive vacant lands differently in various surroundings and conditions.

authors

• Newman, Galen
• Noh, Youngre

published proceedings

• ENVIRONMENT AND PLANNING B-URBAN ANALYTICS AND CITY SCIENCE

author list (cited authors)

• Noh, Y., Newman, G., & Lee, R. J.

citation count

• 6

complete list of authors

• Noh, Youngre||Newman, Galen||Lee, Ryun Jung

publication date

• July 2021

publisher

• SAGE Publications  Publisher

published in

• Environment and planning. B: Urban analytics and city science  Journal

keywords

• Depopulation
• Hedonic Modeling
• Socioeconomic Conditions
• Urban Decline
• Vacant Land

Digital Object Identifier (DOI)

• 10.1177/2399808320933906

start page

• 1667

end page

• 1683

volume

• 48

issue

• 6

URL

• http://dx.doi.org/10.1177/2399808320933906