Journal
REGIONAL SCIENCE AND URBAN ECONOMICS
Volume 69, Issue -, Pages 1-10Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.regsciurbeco.2017.12.008
Keywords
Light rail; Public transit; Property values; Repeat sales; Difference-in-differences
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This study uses property-level repeat sales transaction data to test for the presence of a premium for single-family homes within half a mile of stations on the METRO Blue Line in Minneapolis, Minnesota. Using a difference-indifferences approach, we find that the premium for station proximity varies substantially depending on control group and period definitions for after light rail. Using homes in the rest of Minneapolis as controls yields growing positive premiums from proximity to light rail stations, while using homes in neighborhoods similar to those near stations yield smaller premiums that fade to zero over time.
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