Characteristic Prices of Housing in Fifty-Nine Metropolitan Areas

摘要

Price comparisons for 59 large Standard Metropolitan Statistical Areas (SMSA's) are established by using hedonic equations. The study is based on the information on dwelling and neighborhood characteristics provided by the metropolitan Annual Housing Survey. A hedonic equation is defined as a regression of expenditures (rents or values) on housing characteristics; the results provide estimated prices for housing characteristics, and two dwellings can be compared by using these prices as weights.