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Comparing Walk Accessibility Measures' Impact on Home Values
Land Economics Foundation (LEF) sponsored research in two US cities, Miami and Seattle, to assess the relationship between recently developed private and public walkability scores and housing values. This webinar provides direct access to the researchers and their recent research findings and will discuss next steps for this type of research.
Most recent research on the relationship between walkability and housing value has employed Walk Score as the primary measure of walkability. Despite its benefits, Walk Score has several limitations, namely that it is a proprietary measure whose calculation is not entirely transparent and that it must be purchased when analyzing large sets of data. Here we test a variety of alternative measures of walkability and compare how well they explain housing value in comparison with Walk Score. Here we analyze two distinct urban areas, Seattle and Miami. We also examine how poverty levels act as a mediator on the value of walkability, potentially increasing or decreasing its value.
Steven C. Bourassa, PhD
Steven C. Bourassa is Runstad Endowed Professor and Chair of the Runstad Department of Real Estate in the College of Built Environments at the University of Washington. Previously, he served as department chair at Florida Atlantic University, the University of Auckland, and the University of Louisville, where he was KHC Real Estate Research Professor. His research focuses on urban housing and land markets and policy, covering a range of topics including housing tenure, residential property valuation, property taxation, housing affordability, low-income housing policy, community land trusts, and public land leasehold. He has published his research in numerous real estate and related journals, such as the Journal of Housing Economics, Journal of Real Estate Finance and Economics, Journal of Real Estate Research, and Journal of Urban Economics, as well as Real Estate Economics, Regional Science and Urban Economics, and Urban Studies. His co-edited book, Leasing Public Land: Policy Debates and International Experiences, was published by the Lincoln Institute of Land Policy. Dr. Bourassa is on the editorial boards of eight real estate journals. He is a Fellow of the Weimer School of Advanced Studies in Real Estate and Land Economics and received the Research Achievement Award from the International Real Estate Society, of which he is a past President. He is currently Treasurer of the American Real Estate and Urban Economics Association. He holds a Ph.D. in urban and regional planning from the University of Pennsylvania and received bachelor’s and master’s degrees from the University of Delaware and Temple University, respectively.