Social and Behavioral Sciences Commons^™

Hidden Costs And Deadweight Losses: Bundled Parking Andresidential Rents In The Metropolitan United States, C. J. Gabbe, Gregory Pierce

Environmental Studies and Sciences

There is a major housing affordability crisis in many American metropolitan areas, particularly for renters. Minimum parking requirements in municipal zoning codes drive up the price of housing, and thus represent an important potential for reform for local policymakers. The relationship between parking and housing prices, however, remains poorly understood. We use national American Housing Survey data and hedonic regression techniques to investigate this relationship. We find that the cost of garage parking to renter households is approximately $1,700 per year, or an additional 17% of a housing unit’s rent. In addition to the magnitude of this transport cost burden …