Research Reports

When and How Much Did the Green Line LRT Increase Single-Family Housing Values in St. Paul, Minnesota?

Principal Investigator:

Jason Cao, Shengnan Lou

May 2017

Report no. Journal of Planning Education and Research

Projects: Green Line LRT and Housing Price

Topics: Economics, Planning, Rail, Transit, Urban Transportation

Studies quantifying value added of transit often cannot differentiate whether the premiums are transit effects or location effects. Limited studies have examined the timing of value added. Using before and after data, this study explores the impact of the Green Line LRT on housing sales prices. Compared to the studied period before its funding announcement, its announcement increased housing values by $9.2/sq ft and its commencement increased sales prices by $13.7/sq ft. Further analyses show that housing value appreciation actually occurred after the announcement but before the commencement. Thus, using the right timing of value added is critical for value capture programs and benefit-cost analysis.

Journal article available at: http://dx.doi.org/10.1177/0739456X17707811. Subscription may be required.

Download or Order

Download PDF ()
For print version, view order form or contact CTS Library