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Does Close Count? School Proximity, School Quality, and Residential Property Values

Published online by Cambridge University Press:  28 April 2015

Kwame Owusu-Edusei Jr. ,
Molly Espey  and
Huiyan Lin
Kwame Owusu-Edusei Jr.
Affiliation:
Centers for Disease Control and Prevention, National Institute for Occupational Safety and Health, Division of Safety Research, Atlanta, GA
Molly Espey
Affiliation:
Department of Applied Economics and Statistics, Clemson University, Clemson, SC
Huiyan Lin
Affiliation:
Capital One
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Abstract

This study jointly estimates the impact of school quality and school proximity on residential property values in Greenville, South Carolina. While quality is found to be capitalized into residential property values, the degree of capitalization depends on school level and proximity to each school for which the house is zoned for attendance. In general, there is positive value associated with closer proximity to schools of all levels, and negative value associated with a significantly longer than average distance to schools. In terms of quality rankings, excellence at the elementary and high school levels has the strongest impact on property values.

Keywords

hedonicspark proximityschool proximityschool quality121018R21
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 39 , Issue 1 , April 2007 , pp. 211 - 221
Copyright
Copyright © Southern Agricultural Economics Association 2007

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