An investigation of the effects of rental on single-family home values within single-family neighborhoods in a university town /
Many research studies have explored the influence of different urban variables on single-family neighborhood quality and real estate values in the United States. Researchers have considered the effects of corner lots, zoning regulations, schools, mobile/manufactured homes, office buildings, and neig...
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| Format: | Thesis Book |
| Language: | English |
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[Place of publication not identified] :
[publisher not identified] ;
1996.
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| Online Access: | http://proxy.library.tamu.edu/login?url=http://proquest.umi.com/pqdweb?did=739653361&sid=1&Fmt=2&clientId=2945&RQT=309&VName=PQD |
| Summary: | Many research studies have explored the influence of different urban variables on single-family neighborhood quality and real estate values in the United States. Researchers have considered the effects of corner lots, zoning regulations, schools, mobile/manufactured homes, office buildings, and neighborhood qualities (e.g., quietness, view, and noise) among other variables. However, none has explored the influence of renter-occupied properties on an individual unit basis on single-family home values within single-family neighborhoods in a university town. This research accordingly focuses on the impact of renter occupation on the value of a single-family unit and on surrounding units. The research involved a random sample of 427 single-family housing units in three of the oldest neighborhoods in the university town of College Station, Texas. Using hedonic pricing models with multiple regression analysis, the findings reveal that the renter-occupied single-family units suffer a significant loss of value of 3.5% when compared to owner-occupied units. Time-series analysis shows that single-family units that were rented on a continuous basis for four years since 1992 suffer a significant loss in value of 4.6%. Statistical analysis also indicates a 0.56% increase in the value of owner-occupied single-family unit for every 100 feet pairwise-distance from a rental-occupied unit. The value increases at a decreasing rate as the pairwise-distance increases. This study concludes that in the context of single-family neighborhoods within a university town, a renter-occupied housing unit suffers a significant loss in value when it changes tenureship from owner-occupied to renter-occupied and it significantly affects the values of surrounding owner-occupied units. |
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| Item Description: | Vita. "Major Subject: Urban and Regional Science". |
| Physical Description: | xvii, 205 leaves : illustrations, maps ; 28 cm. Issued also on microfiche from University Microfilms Inc. |
| Bibliography: | Includes bibliographical references: pages 148-152. |