Urban Studies and Planning Commons^™

Public Transportation Accessibility, Proximity To New York City, And Residential Property Values In New Jersey, Sangwan Lee, Michael Smart

Hatfield Graduate Journal of Public Affairs

In recent years as housing with better transit accessibility has become unaffordable to many households in many regions globally, the call to study the connection between transit and property values has shifted to concern itself with the negative consequences of transit access being capitalized into property values. The primary purpose of this research is to define the effect of station proximity and other characteristics on housing prices and provide evidence if there is displacement in the area with better accessibility to transit. The outcome reveals that locational factors are associated with housing prices. Inherent housing features, the number of beds, …