Prior studies have investigated the impact on property values to the proximity of established public transportation stations. Public transportation is thought to increase value of towns and properties, giving residents more options for transportation to and around the city. Both benefits and consequences of public transportation exist, allowing for either a raise or lower of property values in towns with stops. This paper analyzes the Greenbush Commuter line in Massachusetts, seeing if the proximity to the stops has an affect on the property of values in the towns. A difference – in – difference model is used to investigate a difference in property value changes between the near houses and the far houses. Results show that no statistical difference between the changes in property values of near houses compared to far houses. Potential benefits and consequences of the Greenbush line may mitigate each other, leading to no difference in the change of property values.
Evans, Sarah C.
"Property value changes from public transportation: How the Greenbush Commuter line affected property values,"
Journal of Environmental and Resource Economics at Colby:
1, Article 4.
Available at: http://digitalcommons.colby.edu/jerec/vol3/iss1/4