Willingness to Pay for Attributes of Location Efficiency

Jeremy Gabe, Spenser Robinson, Andrew Sanderford

Research output: Contribution to journalArticlepeer-review

Abstract

This paper examines U.S. residential consumer willingness to pay for location efficiency, a normative advancement of new urbanism. Drawing on a national sample of multi-family housing data joined to measures of urban form and spatial structure, empirical models suggest three contributions to the literature. First, renters are willing to pay for greater location efficiency and for individual attributes of more efficient locations. Second, renters’ tastes and preferences for location efficiency are spatially heterogeneous. Third, location efficiency data appears to provide a meaningful level of control for locational quality. These contributions extend prior research efforts related to bid rent and urban amenities.

Original languageEnglish (US)
JournalJournal of Real Estate Finance and Economics
DOIs
StateAccepted/In press - 2021
Externally publishedYes

Keywords

  • Density
  • Design
  • Destination accessibility
  • Multi-family housing
  • New urbanism
  • Transit
  • Urban form
  • Walkability

ASJC Scopus subject areas

  • Accounting
  • Finance
  • Economics and Econometrics
  • Urban Studies

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