Relationship between value of open space and distance from housing locations within a community

  • Cho S
  • Lambert D
  • Kim S
 et al. 
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Abstract

This research uses a sequence of hedonic spatial regressions for a metropolitan housing makert in the Southeastern United States to explore a new procedure that establishes the relationship between the value attributable to open space and distance from housing locations (a "distance-decay function") within a given community. A distance-decay function allows identification of the range of distance over which open space affects housing values and the estimation of a proxy for the value added to nearby houses resulting from hypothetical open space preservation. Ex post analyses of the open-space regression coefficients suggest marginal implicit price functions for three types of open space that decay as open space area increases with respect to house location.

Author-supplied keywords

  • Agriculture-wetland open space
  • Amenity value
  • Developed open space
  • Forest-land open space
  • Spatial hedonic model

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Authors

  • Seong Hoon Cho

  • Dayton M. Lambert

  • Seung Gyu Kim

  • Roland K. Roberts

  • William M. Park

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