Journal of Economics and Finance

, Volume 16, Issue 2, pp 139–146 | Cite as

The estimation of residential property values around transit station sites in Washington, D.C.

  • R. Gail Grass


The author examines in this study the relationship between public investment in METRO and property values in several neighborhoods in Washington, D.C., in order to determine if public investment in heavy rail transit systems increases residential property values. In order to examine this relationship, a hedonic price equation which included a dummy independent variable was estimated. Analysis of the data revealed a significant direct relationship between the opening of METRO and residential property values. Therefore, it can be concluded that public investment in METRO caused property values to increase around station site areas.


Control Area Public Investment Central Business District Impact Area Residential Property 
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Copyright information

© Springer 1992

Authors and Affiliations

  • R. Gail Grass
    • 1
  1. 1.Jackson State UniversityJackson

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