Abstract
This study examines the rent gradient of a medium-sized city. A regression analysis is performed on the connection between apartment rents and distances to the city center, a freeway, and the closest intersection between freeways. A vector of other attributes is included in the equation to control for differences between sampled apartments. We find all three distance variables to be statistically significant, which indicates that they should be included in rent-estimation models. Moreover, we estimate a quadratic relationship between the rents and both highway variables and a third degree polynomial form for the distance to the city center.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Asabere, P., and F. Huffman. (1996). “Thoroughfares and Apartment Value.” Journal of Real Estate Research 12, 9–16.
Blettner, R. (1969). “Mass Appraisals Via Multiple Regression Analysis.” Appraisal Journal (October), 513–521.
Emerson, F. (1972). “Valuation of Residential Amenities: An Economic Approach.” Appraisal Journal (April), 268–278.
Frew, J., and G. Jud. (1988). “Vacancy Rates and Rent Levels in the Commercial Office Market.” Journal of Real Estate Research 3, 1–8.
Frew, J., and D. Winkler. (1990). “Atypicalities and Apartment Rent Concessions.” Journal of Real Estate Research 5, 195–202.
Graaskamp, J. (1991). “Redefining the Role of University Education in Real Estate and Urban Land Economics,” reprinted in S. Jarchow, ed., Graaskamp on Real Estate 40–50. Urban Land Institute: Washington, DC.
Lerman, S.R. (1979). “Neighborhood Choice and Transportation Services.” Studies in Urban Economics, 83–117.
Muth, R.F. (1969). Cities and Housing: The Spatial Pattern of Urban Residential Land Use. Chicago: University of Chicago Press.
Oregon Fact Book. (1999). http://www. portlanddev. org.
Pollakowski, H. (1982). Urban Housing Markets and Residential Location. Lexington, MA: Lexington Books.
Sirmans, G., and J. Benjamin. (1991). “Determinants of Market Rent.” Journal of Real Estate Research 6, 357–379.
Sirmans, G.S., and C.F. Sirmans. (1989). “Determining Apartment Rent: The Value of Amenities, Services, and External Factors.” Journal of Real Estate Research 4, 33–44.
Sirmans, G.S., and C.F. Sirmans. (1990a). “Examining the Variability of Apartment Rent.” Real Estate Appraiser and Analyst 56, 43–48.
Sirmans, G.S., and C.F. Sirmans. (1990b). “Rental Concessions and Property Values.” Journal of Real Estate Research 5, 141–151.
Smith, C., and M. Kroll. (1987). “An Analysis of Tenant Demand for Amenities.” Journal of Property Management (November-December), 14–17.
Smith, C., and M. Kroll. (1988). “Improving Estimates of Potential Gross Income in Multifamily Properties Through Market Research” Appraisal Journal 55, 118–125.
Smith, C., and M. Kroll. (1989). “Utility Theory and Rent Optimization: Utilizing Cluster Analysis to Segment Rental Markets.” Journal of Real Estate Research 4, 61–71.
Stegman, M. (1969). “Accessibility Models and Residential Location.” Journal of American Institute of Planners 35, 22–29.
White, M. (1976). “Firm Surburbanization and Urban Subcenters.” Journal of Urban Economics 3, 323–343.
White, M. (1988), “Location Choice and Commuting Behavior in Cities with Decentralized Employment.” Journal of Urban Economics 24, 129–152.
White, M. (1990). “Commuting and Congestion: A Simulation Model of a Decentralized Metropolitan Area.” AREUEA Journal 18, 335–368.
Wieand, K. (1987). “An Extension of the Monocentric Urban Spatial Equilibrium Model to a Multicenter Setting: The Case of the Two-Center City.” Journal of Urban Economics 21, 259–271.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2000 Springer Science+Business Media New York
About this chapter
Cite this chapter
Frew, J., Wilson, B. (2000). Transportation Routes, Apartment Rents, and the Assessment of Value. In: DeLisle, J.R., Worzala, E.M. (eds) Essays in Honor of James A. Graaskamp: Ten Years After. Research Issues in Real Estate, vol 6. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-1703-0_11
Download citation
DOI: https://doi.org/10.1007/978-1-4615-1703-0_11
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4613-5686-8
Online ISBN: 978-1-4615-1703-0
eBook Packages: Springer Book Archive