Valuing the New Urbanism: The Case of Kentlands
Format of Original
Real Estate Economics
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.
Tu, Charles C. and Eppli, Mark, "Valuing the New Urbanism: The Case of Kentlands" (1999). Finance Faculty Research and Publications. 55.