Impact of Transportation and Other Jurisdictional-Level Infrastructure and Services on Housing Prices

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Abstract
The existing literature, while estimating the impact of infrastructure and services, has tended to treat the housing market as homogeneous. This paper adds to the extant literature by systematically estimating the impact of selected jurisdictional-level public infrastructure and services—transportation accessibility (morning travel time to central business district; automobile accessibility to retail jobs), crime (violent crime rate), school quality (school expenditure per pupil), and overall quality of municipal-level infrastructure and services (overall municipal expenditure per person)—on various single-family housing submarkets. The single-family housing market is subdivided into four submarkets—existing high-quality housing; existing low-quality housing; new high-quality housing; and new low-quality housing. The data used in this paper include all the single-family housing sales recorded by the county tax assessor’s office for 29 cities and towns of King County, Wash. from the years 1991 to 2000. The...

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