Impact of Heavy-rail-based Rapid Transit on House Prices: Evidence from the Fremont,CA,Warm Springs BART Extension Project

Abstract

Spanish

Chinese

This study estimates households’ willingness to pay for single-family houses and condominiums/townhouses located within 2 miles of Warm Springs (WS) BART Station in Fremont, CA. The study finds that, compared to the houses sold in the control distance band (2–5 miles away), an average-priced single-family house within 2 miles of the WS BART Station was higher in price by 9 to 15 percent. The total property value increment for the single-family houses is large enough to fund the $802 million Warm Springs BART Extension Project cost five times over.

Keywords

spatial analysis spatial econometrics transit transportation hedonic regression rapid transit heavy rail

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