December 20, 2019 - DallasInnovates.com -
What factors can increase the property value of sites near transit-oriented developments?
A University of Texas at Arlington study identifies the most important factors that can increase housing values near those locations.
Ard Anjomani, a UTA professor in the College of Architecture, Planning and Public Affairs, and Saad AlQuhtani, a recent alumnus, are the authors of the study called, “Do rail transit stations affect housing value changes?” It looks at the effects of DFW-area rail transit stations on the housing values in nearby neighborhoods. UTA noted that although DFW is an automobile-oriented region, it has the longest rail system in the nation.
The study’s findings concluded:
The most important variable in increasing housing values near transit-oriented developments is the number of college-educated residents
An increase in housing values happens when the number of jobs increases around transit-oriented developments (TODs)
There’s a positive correlation between housing values and the close location of a nearby entrance ramp to a highway
An increase in property values surrounding TODs in proximity to shopping malls
A decrease in housing values near TODs decreased when located near schools
No significant impact on housing values when a park was nearby
According to the study, compact, mixed-use, high-density, walkable urban projects also improve the affordability of housing in neighborhoods adjacent to rail stations, which also helps increase transit ridership.
What factors can increase the property value of sites near transit-oriented developments?
A University of Texas at Arlington study identifies the most important factors that can increase housing values near those locations.
Ard Anjomani, a UTA professor in the College of Architecture, Planning and Public Affairs, and Saad AlQuhtani, a recent alumnus, are the authors of the study called, “Do rail transit stations affect housing value changes?” It looks at the effects of DFW-area rail transit stations on the housing values in nearby neighborhoods. UTA noted that although DFW is an automobile-oriented region, it has the longest rail system in the nation.
The study’s findings concluded:
The most important variable in increasing housing values near transit-oriented developments is the number of college-educated residents
An increase in housing values happens when the number of jobs increases around transit-oriented developments (TODs)
There’s a positive correlation between housing values and the close location of a nearby entrance ramp to a highway
An increase in property values surrounding TODs in proximity to shopping malls
A decrease in housing values near TODs decreased when located near schools
No significant impact on housing values when a park was nearby
According to the study, compact, mixed-use, high-density, walkable urban projects also improve the affordability of housing in neighborhoods adjacent to rail stations, which also helps increase transit ridership.