Do rail transit stations affect housing value changes? The Dallas Fort-Worth metropolitan area case and implications

摘要

Dependency on the automobile in the United States has been associated with many urban problems. As a result, many American cities have seen a rebound in public transportation systems many of whom have built modern rail transit systems. This resurgence of rail transit systems has caused apparent shifts in economic, social, and spatial aspects of neighborhoods located in proximity to rail stations.This study investigates the changes in housing value between 2000 and 2014 in 454 block groups within a one-mile buffer around rail stations located in the Dallas-Fort Worth metropolitan area to determine if there is a correlation between proximity to rail stations and median housing value. This study uses two approaches to analyze the data. First, a comparison of changes in housing value within block groups located in the study area during the study period is introduced. Next, an innovative approach is employed to select the best regression model using the data on the block groups located within the study area to understand the relationships between the selected independent variables and the changes in housing value during the study period in relation to the research question.The findings demonstrate that economic development and commercial activity locations have the highest effect on housing value during the study period, and block groups that were closer to rail stations experienced lower changes in housing value compared to block groups located farther away from stations. An interesting finding contrary to some of the literature is that an increase in the percent of the black population does not have negative effects on the change in property values. The findings for Hispanic and other minorities is also the same. These findings are a useful addition to the existing literature and contribute to the field of urban planning to mitigate the effects on housing value surrounding station areas. In addition, planners and policymakers could use the implications from the findings to adopt some policies for furthering the success of rail transit systems in urban areas by sustaining station area development.