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The Effect of Bus Rapid Transit (BRT) on Property Values: A Longitudinal Evaluation of Multiple US Cities

Authors: Blake Acton*, The Ohio State University - Geography, Harvey J. Miller, The Ohio State University - Geography, Huyen Le, The Ohio State University - Geography, Gulsha Akar, The Ohio State University - City and Regional Planning, Elena Irwin, The Ohio State University - Agricultural, Environmental, and Developmental Economics
Topics: Transportation Geography, Urban Geography, Economic Geography
Keywords: Bus rapid transit, BRT, transit, transportation, property values, land values, hedonic model, regression
Session Type: Paper
Presentation File: No File Uploaded

As transportation budgets tighten in tandem with a decline of political will to fund capital intensive transit projects US cities are increasingly turning to bus rapid transit (BRT) to expand their public transit networks. Cities are allured by the promise that BRT can deliver rail-like service for a fraction of the cost. However, as BRTs systems proliferate throughout the country there remains gaps in understanding how these systems affect nearby land values over time. This research addresses these gaps by evaluating the longitudinal effect of BRT on property values across 16 different systems in the US. The effect of BRT on land values is evaluated by using hedonic price modeling of property sales transactions from 2000 to 2015. More complete BRT systems are compared with less complete BRT-lite systems to evaluate the importance of dedicated lane infrastructure. Specific notable comparisons and cases will be discussed along with global results.

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