The influence of urban design on economic vitality has been analyzed by a number of researchers and is also a key focus of many planning/design theories. However, most quantitative studies are base...

Does block size matter? The impact of urban design on economic vitality for Chinese cities:

Walking is an imperative travel mode, especially for short trips. Walking accessibility, which is defined as the ease of reaching essential destinations in the walk-in catchment area, may affect property prices because residents are more likely to be willing to pay for this attribute. In addition, different categories of public services may have varied influencing directions and magnitude. These two hypotheses are tested in this study. Taking Xiamen, China as a case study, we estimate the cumulative opportunities of public services on foot and develop a set of hedonic pricing models (more specifically, two pre-specified ordinary least squares models, four Box-Cox transformed models, and two spatial econometric models) to estimate, whether and to what extent, walking accessibility contributes to price premiums (or discounts). Using a database of 22,586 second-hand residential properties in 358 multi- or high-storey residential complexes, we find that (1) walking accessibility to public services contributes to the variations in housing prices and plays a role in determining housing prices; (2) different categories of services have vastly divergent, even opposite, influencing impacts; and (3) walking accessibility to primary schools, commercial centers, and sports and cultural centers have positive effects on house prices whereas walking accessibility to comprehensive hospitals adversely affects housing prices. Methodologically, we confirm that spatial econometric methods improve estimation accuracy and have more explanatory power relative to the standard non-spatial models. Robustness check analysis further guarantees the plausibility of this study.

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Walking accessibility and property prices

Housing prices are determined by a variety of factors, including the features of the building and the neighborhood environment, and a potential buyer decides to buy a house after reviewing these factors and concluding that it is worth the price. We used Hedonic Price Methods to find the relationship between monetary value of house and access conditions to urban parks. Two meaningful results were discovered in this study: first, as the distance from the park increases, the value of the park inherent in the housing price decreases; second, the greater walking accessibility, to the park, the higher the park value inherent in housing prices. Despite presenting shorter distances to walk and more entrances, poorly accessible zones were deemed as such due to the necessity of crossing an arterial road. This indicates that the results can define accessibility not as the Euclidian distance but as the shortest walking distance while considering crossroads and park entrances. The results of this study have significant implications for urban park economic impact analyses in Seoul. Also, the increase in housing prices closer to parks supports the idea that access is dependent on the residents’ socioeconomic status. Lastly, the results of this study can improve walking accessibility to the park.

Park Accessibility Impacts Housing Prices in Seoul

There have been many efforts to enhance pedestrian safety for children because school-aged children are one of the most vulnerable groups to traffic injury. However, we have limited understanding as to how the built environment affects child pedestrian safety around schools. Further, most previous studies have overlooked the fact that the built environment that support child pedestrian safety may vary across neighborhood heterogeneity. This study addresses these gaps by examining the impacts of the built environments on child pedestrian crashes around schools in Austin, Texas, USA. We use the binary logistic regression model with Firth's penalized likelihood method to estimate the impacts of built environments on child pedestrian crashes at the street segment level. This study finds that longer block lengths, missing sidewalks, crosswalk density, and commercial land uses around schools may hinder child pedestrian safety. Moreover, we find that socioeconomically disadvantaged children may have little to no protection against the risk of pedestrian crashes, especially due to lack of sidewalks and well-designed crosswalks. Our results may help planners, policymakers, and public health professionals better understand how to enhance child pedestrian safety around schools by improving surrounding built environments based on different neighborhood characteristics.

Social inequalities in child pedestrian traffic injuries: Differences in neighborhood built environments near schools in Austin, TX, USA

We aimed to determine the relationship between neighborhood characteristics (walkability, cohesion/safety) and recommended activity levels among community-dwelling middle-aged and older adults. Subjective and objective data on 394 individuals aged ≥50 years were used to assess the likelihood of walking ≥150 min/week. Environmental factors associated with a greater likelihood of any walking ≥150 min/week included living in a neighborhood with high perception of cohesion/safety versus low, living in walkable areas versus car-dependent, and living in an area with a low-moderate median income versus the lowest. Middle-aged and older adults were more likely to walk ≥150 min/week in a walkable, perceived safe/cohesive neighborhood. Identifying neighborhood factors associated with promoting walking among this population can enable stakeholders (e.g., researchers, planners, and policy makers) to direct interventions focusing on the built environment.

Using Walk Score™ and Neighborhood Perceptions to Assess Walking Among Middle-Aged and Older Adults

This article investigates the impact of neighborhood walkability, measured by Street Smart Walk Score and sidewalk density, on property values by analyzing the 2010–2012 single-family home sale transactions in Austin, Texas. The Cliff-Ord spatial hedonic model (also known as the General Spatial Model, or SAC) is used to control for spatial autocorrelation effects. Results show that improving walkability through increased access to amenities in car-dependent neighborhoods does not appear to increase property values; adding sidewalks in these neighborhoods leads to a minimal increase in property values. Investments in neighborhood amenities and sidewalks will yield a greater home price increase in a walkable neighborhood than in a car-dependent neighborhood.

Assessing Benefits of Neighborhood Walkability to Single-Family Property Values A Spatial Hedonic Study in Austin, Texas

Although many studies have examined the effects of transit accessibility on housing prices, fewer studies have looked more closely at the implications of transit station area development on the urban housing market. Employing a multi-level hedonic price model, we examined the effect of light rail transit (LRT) station area development on residential property values in Calgary, Canada. Station area development is measured by 1) land use diversity index, also known as land use entropy, and 2) activity opportunity count (i.e., the number of selected business licenses) within the 400m-buffers of station. In the case of Calgary, land use diversity is not associated with property values, which is counter to the existing knowledge. However, our findings suggest that activity opportunities around stations are positively related, particularly to the value of apartment properties. We also observed that a lack of activity opportunities for pedestrians and transit users and a poorly designed station area can partially explain the unexpected outcomes. 

The Impact of Light Rail Transit Station Area Development on Residential Property Values in Calgary, Canada: Focus on land use diversity and activity opportunities

Movement toward compact and walkable communities and low-carbon travel has gained momentum through various policy initiatives. However, residents' willingness to pay for neighborhood walkability is still unknown. This study addresses that knowledge gap by quantifying walkability premiums based on 3,899 condominium sale transactions from 2010 to 2012 in Austin, Texas. Two measures of walkability were compared: Walk Score and Street Smart Walk Score. A spatial hedonic modeling approach improved estimation accuracy by controlling for spatial autocorrelation effects. The premium for walkability was found to be influenced by the pedestrian collision rate, street connectivity, length of sidewalks, speed limit, and various sociodemographic factors. A positive walkability premium was identified for 57% of sampled condominiums, most of which were located in neighborhoods that were at least somewhat walkable. The results could be used to identify investment priorities for creating walkable neighborhoods.

From Car-Dependent Neighborhoods to Walkers’ Paradise: Estimating Walkability Premiums in the Condominium Housing Market

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Assessing Benefits of Neighborhood Walkability to Single-Family Property Values A Spatial Hedonic Study in Austin, Texas

The Impact of Light Rail Transit Station Area Development on Residential Property Values in Calgary, Canada: Focus on land use diversity and activity opportunities

From Car-Dependent Neighborhoods to Walkers’ Paradise: Estimating Walkability Premiums in the Condominium Housing Market