(erielack) OT: property values

[David Goessling <dmg_@_library.ho.lucent.com>]

Here's a fairly unbiased study by a big consulting company.

http://www.apta.com/info/briefings/diaz.pdf

Interesting stats:

"Statistical models
developed to analyze the impact of proximity to rail on
property values showed that for every meter a house in
Alameda County was located closer to the nearest BART
station, its sales price in 1990 increased by $2.29. For
every meter a house was closer to the nearest BART station
in Contra Costa County, the sales price increased $1.96.
According to the models, a house immediately adjacent to
BART would sell for close to 38% more than an identical
house not near any BART service (35 kilometers away).
(2) Effectively, this comparison may represent the
difference between the sales price of the home near a station
of a mature rail system and the sales"

and

"An examination of areas near commuter rail systems
in suburban Philadelphia confirms that there is a similar
effect associated with commuter rail service. For two
separate commuter rail systems, there are proven premiums
for being near commuter rail. In suburban New Jersey, for
example, the median home price for census tracts
immediately served by the rail line operated by PATCO was
generally 10% higher that the median home price in census
tracts located away from the rail line."

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