Hostname: page-component-78c5997874-8bhkd Total loading time: 0 Render date: 2024-11-15T01:27:21.277Z Has data issue: false hasContentIssue false
  • English
  • Français

Living on the Edge: Residential Property Values in the Urban-Rural Interface

Published online by Cambridge University Press:  28 April 2015

Molly Espey ,
Fahmida Fakhruddin ,
Lawrence R. Gering  and
Huiyan Lin
Molly Espey
Affiliation:
Department of Applied Economics and Statistics, Clemson University, Clemson, SC
Fahmida Fakhruddin
Affiliation:
Department of Applied Economics and Statistics, Clemson University, Clemson, SC
Lawrence R. Gering
Affiliation:
Department of Forestry and Natural Resources, Clemson University, Clemson, SC
Huiyan Lin
Affiliation:
Capital One
Get access Rights & Permissions [Opens in a new window]

Abstract

This study estimates the contribution of both urban-rural fringe location and lake proximity on residential property values in three upstate counties of South Carolina through estimation of spatial hedonic housing price models. Location in the urban fringe and the urban–rural interface are found to have a positive impact on residential housing values relative to either urban or more rural locations. Lakes in the upstate contribute positively to housing values to the extent that the house has a view of a lake, lake access, or lake frontage.

Keywords

environmental valuationhedonic analysislake proximityrural developmenturban-rural interfaceurban sprawl018R14R21
Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 39 , Issue 3 , December 2007 , pp. 689 - 699
Copyright
Copyright © Southern Agricultural Economics Association 2007

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Acharya, G., and Bennett, L.. “Valuing Open Space and Land Use Patteras in Urban Watersheds.” Journal of Real Estate Finance and Economics 22,2/3(2000):221-37.CrossRefGoogle Scholar
Anselin, L.Spatial Econometrics: Methods and Models. Boston: Kluwer Academic Press, 1988.CrossRefGoogle Scholar
Anderson, J., Hardy, E.E., Roach, J.T., and Witmer, R.E.. A Land Use and Land Cover Classification System for Use with Remote Sensor Data. Washington, DC: United States Geological Survey, Professional Paper 964, 1976.CrossRefGoogle Scholar
Bockstael, N.E. “Modeling Economics and Ecology: The Importance of a Spatial Perspective.” American Journal of Agricultural Economics 78,5(1996):1168–1180.CrossRefGoogle Scholar
Bockstael, N., and Bell, K.. “Land use patterns and water quality: The effect of differential land management controls.” Conflict and Cooperation on Trans-Boundary Water Resources, Just, R. and Netanyahu, S., eds. Boston: Kluwer Academic Press, 1997.Google Scholar
Brasington, D.M., and Hite, D.. “Demand for Environmental Quality: A Spatial Hedonic Analysis.” Regional Science and Urban Economics 35(2005):57–82.CrossRefGoogle Scholar
Can, A. “The Measurement of Neighborhood Dynamics in Urban House Prices.” Economic Geography 66(July 1990):254-72.CrossRefGoogle Scholar
Can, A. “Specification and Estimation of Hedonic Housing Price Models.” Regional Science and Urban Economics 22(1992):453-74.CrossRefGoogle Scholar
Correll, M.R., Lillydahl, J.H., and Singell, L.D.. “The Effects of Greenbelts on Residential Property Values: Some Findings on the Political Economy of Open Space.” Land Economics 54(1978):207-17.CrossRefGoogle Scholar
Cunningham, C., Espey, M., Gering, L.R., King, K.H., and Lin, H.. “Faces of Suburbanization: Residential Location Choice at the Urban Fringe.” Review of Agricultural Economics 29,3(2007):390–395.CrossRefGoogle Scholar
Do, A.Q., and Grudnitski, G.. “Golf Courses and Residential House Prices: An Empirical Examination.” Journal of Real Estate Finance and Economics 10(1995):261-70.CrossRefGoogle Scholar
Dobson, L.D., Oldendick, R.W., and Prince, C.H.. “Growth in South Carolina: A Public Perspective.” Columbia, South Carolina: University of South Carolina, Institute of Public Affairs. Internet site: www.iopa.sc.edu/cep/outreach/SmartGrowth.pdf (Accessed September 15, 2007).Google Scholar
Dubin, R. “Estimation of Regression Coefficients in the Presence, of Spatially Autocorrelated Error Terms.” Review of Economics and Statistics 70(1988):466-74.CrossRefGoogle Scholar
Dubin, R. “Spatial Autocorrelation and Neighborhood Quality.” Regional Science and Urban Economics 22(1992):433-52.CrossRefGoogle Scholar
Espey, M., and Owusu, K.-Edusei. “Neighborhood Parks and Residential Property Values in Greenville, South Carolina.” Journal of Agricultural and Applied Economics 33,3(2001):487-92.CrossRefGoogle Scholar
Frech, H.E. III, and Lafferty, R.N.. “The Effect of the California Coastal Commission on Housing Prices.” Journal of Urban Economics 6(1984):105-23.CrossRefGoogle Scholar
Geoghegan, J., Wainger, L.A., and Bockstael, N.E.. “Spatial Landscape Indices in a Hedonic Framework: An Ecological Economics Analysis using GIS.” Ecological Economics 23(1997):251-64.CrossRefGoogle Scholar
Geoghegan, J., Lynch, L., and Bucholtz, S.. “Capitalization of Open Spaces into Housing Values and the Residential Property Tax Revenue Impacts of Agricultural Easement Programs.” Agricultural and Resource Economics Review 32,1(2003):33–45.CrossRefGoogle Scholar
Hardie, I., Narayan, T.A., and Gardner, B.L.. “The Joint Influence of Agriculture and Nonfarm Factors on Real Estate Values: An Application to the Mid-Atlantic Region.” American Journal of Agricultural Economics 83,1(2001):120-32.CrossRefGoogle Scholar
Irwin, E.G. “The Effects of Open Space on Residential Property Values.” Land Economics 78,4(2002):465-80.CrossRefGoogle Scholar
Irwin, E.G., and Bockstael, N.E.. “The Problem of Identifying Land Use Spillovers: Measuring the Effects of Open Space on Residential Property Values.” American Journal of Agricultural Economics 83,3(2001):698–704.CrossRefGoogle Scholar
Isakson, H.R., and Ecker, M.D.. “Analysis of the Influence of Location in the Market for Underveloped Urban Fringe Land.” Land Economics 77,1(2001):30–41.CrossRefGoogle Scholar
Leggett, C.G., and Bockstael, N.E.. “Evidence of the Effects of Water Quality on Residential Land Prices.” Journal of Environmental Economics and Management 39(2001):121-44.CrossRefGoogle Scholar
Lutzenheiser, M., and Netusil, N.R.. “The Effect of Open Space Type and Proximity on a Home’s Sale Price: Portland, Oregon.” Contemporary Economic Policy 19,3(2001):291-98.CrossRefGoogle Scholar
Mahan, B., Polasky, S., and Adams, R.M.. “Valuing Urban Wetlands: A Property Price Approach.” Land Economics 76,1(2000):100-13.CrossRefGoogle Scholar
Marek, M.W. “A Model for Defining and Predicting the Urban-Wildland Interface for the Piedmont of South Carolina.” MS Thesis, Clemson University, SC, 2001.Google Scholar
Marek, M., and Gering, L.R.. “A Model for Defining and Predicting the Urban-Wildland Interface for the Piedmont of South Carolina.” Eleventh Biennial Southern Silvicultural Research Conference Proceedings, Washington DC: U.S. Department of Agriculture Forest Service General Technical Report SRS-xx, 2001.Google Scholar
McMillen, D.P. “Probit with Spatial Autocorrelation.” Journal of Regional Science 3(1992):35–48.Google Scholar
McMillen, D.P. “Selection Bias in Spatial Econometric Models.” Journal of Regional Science 3(1995):417-36.CrossRefGoogle Scholar
Netusil, N.R., and Boltizer, B.. “The Impact of Open Space on Property Values in Portland, Oregon.” Journal of Environmental Management 59,3(2000):185-93.Google Scholar
Palmquist, R.B. “Estimating the Demand for Characteristics of Housing.” Review of Economics and Statistics 64(August 1984):394–404.CrossRefGoogle Scholar
Parks, P. “Models of Forested and Agricultural Landscapes: Integrating Economics.” Quantitative Methods in Landscape Ecology, Turner, M.G. and Gardner, R.H., eds. New York: Springer Verlag, 1991.Google Scholar
Rosen, S. “Hedonic Prices and Implicit Prices: Product Differentiation in Perfect Competition.” Journal of Political Economy 82,1(1974):34–55.CrossRefGoogle Scholar
Theebe, M.A.J. “Planes, Trains, and Automobiles: The Impact of Traffic Noise on House Prices.” Journal of Real Estate Finance and Economics 28,2/3(2004):209-34.CrossRefGoogle Scholar
Tyrvainen, L., and Miettinen, A.. “Property Prices and Urban Forest Amenities.” Journal of Environmental Economics and Management 39,2(2000):205-23.CrossRefGoogle Scholar
Weicher, J., and Zerbst, R.. “The Externalities of Neighborhood Parks: An Empirical Investigation.” Land Economics 49(1973):99–105.CrossRefGoogle Scholar
U.S. Census Bureau. Internet site: www.census.gov (Accessed September 15, 2007).Google Scholar
U.S. Department of Agriculture, National Resource Conservation Service, National Resources Inventory 2001. Internet site: www.nrcs.usda.gov/technical/land/nri01/nri01dev.html.Google Scholar