Title

Valuing the New Urbanism: The Case of Kentlands

Document Type

Article

Publication Date

1999

Source Publication

Real Estate Economics

Abstract

This study assesses the impact of new urbanism on single-family home prices. Specifically, we use Duany and Plater-Zyberk's traditional neighborhood development (TND) of Kentlands and surrounding conventional subdivisions to estimate the premium, if any, that single-family homeowners are willing to pay to reside in a community with new urbanist features. Using data on 2,061 single-family home transactions and several hedonic price models, the empirical evidence reveals that consumers are willing to pay a premium to locate in Kentlands.

Comments

Real Estate Economics, Volume 27, No. 3, pp 425–451 (September, 1999). DOI: 10.1111/1540-6229.00779