Measuring the Contribution of Water and Green Space Amenities to Housing Values: An Application and Comparison of Spatially-weighted Hedonic Models

This study estimates the influence of proximity to water bodies and park amenities on residential housing values in Knox County, Tennessee, using the hedonic price approach. Values for proximity to water bodies and parks are first estimated globally with a standard ordinary least square (OLS) model. A locally weighted regression model is then employed to investigate spatial non-stationarity and generate local estimates for individual sources of each amenity. The local model is able to capture the variability in the quality of water bodies and parks across the county, something a conventional hedonic model using OLS cannot do.


Issue Date:
2006
Publication Type:
Conference Paper/ Presentation
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/21242
PURL Identifier:
http://purl.umn.edu/21242
Total Pages:
42
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2019-08-26

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