Public Transit’s Impact on Housing Costs
Posted by on September 12, 2011
Center for Housing Policy has released Public Transit’s Impact on Housing Costs: A Review of the Literature, which summarizes the extensive body of research on whether public transit influences the cost of nearby housing. The brief finds that access to public transit generally leads to higher home values and rents, but the magnitude and direction of the impact can vary both across metro areas and from station to station within a single metro. In most cases, the impact is positive and can be quite large, but a few studies have found the effects to be neutral or negative.
Certain conditions appear more likely to lead to higher housing costs near transit stations than others, including:
A public transit system that significantly improves regional accessibility
A strong housing market
A pedestrian-friendly, walkable station area
Click here to read the report
http://www.nhc.org/media/documents/TransitImpactonHsgCostsfinal_-_Aug_10_20111.pdf
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