Property Values as a Measure of Neighborhoods: An Application of Hedonic Price Theory

PDF Version Also Available for Download.

Description

This article describes a tool kit for understanding how neighborhood characteristics are quantified in appraisal values.

Physical Description

15 p.

Creation Information

Leonard, Tammy; Powell-Wiley, Tiffany M.; Ayers, Colby; Murdoch, James; Yin, Wenyuan & Pruitt, Sandi L. February 25, 2016.

Context

This article is part of the collection entitled: UNT Scholarly Works and was provided by the University of North Texas to the UNT Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 125 times. More information about this article can be viewed below.

Who

People and organizations associated with either the creation of this article or its content.

Authors

Publisher

Provided By

University of North Texas

Established in 1890, the University of North Texas has grown to be one of the nation's largest public research universities. Offering more than 200 degree programs, the university honors diversity, caring, creativity, and innovation in order to empower students to thrive in a rapidly changing world.

Contact Us

What

Descriptive information to help identify this article. Follow the links below to find similar items on the Digital Library.

Degree Information

Description

This article describes a tool kit for understanding how neighborhood characteristics are quantified in appraisal values.

Physical Description

15 p.

Notes

Abstract:

Background: Researchers measuring relationships between neighborhoods and health have begun using property appraisal data as a source of information about neighborhoods. Economists have developed a rich tool kit to understand how neighborhood characteristics are quantified in appraisal values. This tool kit principally relies on hedonic (implicit) price models and has much to offer regarding the interpretation and operationalization of property appraisal data-derived neighborhood measures, which goes beyond the use of appraisal data as a measure of neighborhood socioeconomic status.

Methods: We develop a theoretically informed hedonic-based neighborhood measure using residuals of a hedonic price regression applied to appraisal data in a single metropolitan area. We describe its characteristics, reliability in different types of neighborhoods, and correlation with other neighborhood measures (i.e., raw neighborhood appraisal values, census block group poverty, and observed property characteristics). We examine the association between all neighborhood measures and body mass index.

Results: The hedonic-based neighborhood measure was correlated in the expected direction with block group poverty rate and observed property characteristics. The neighborhood measure and average raw neighborhood appraisal value, but not census block group poverty, were associated with individual body mass index.

Conclusion: We draw theoretically consistent methodology from the economics literature on hedonic price models to demonstrate how to leverage the implicit valuation of neighborhoods contained in publicly available appraisal data. Consistent measurement and application of the hedonic-based neighborhood measures in epidemiology will improve understanding of the relationships between neighborhoods and health. Researchers should proceed with a careful use of appraisal values utilizing theoretically informed methods such as this one.

This is a non-final version of an article published in final form in Epidemiology. 2016 Jul;27(4):518-24. doi: 10.1097/EDE.0000000000000470..

Source

  • Epidemiology, 27(4), Wolters Kluwer Health, Inc., February 25, 2016, pp. 1-15

Language

Item Type

Identifier

Unique identifying numbers for this article in the Digital Library or other systems.

Publication Information

  • Publication Title: Epidemiology
  • Volume: 27
  • Issue: 4
  • Peer Reviewed: Yes

Collections

This article is part of the following collection of related materials.

UNT Scholarly Works

Materials from the UNT community's research, creative, and scholarly activities and UNT's Open Access Repository. Access to some items in this collection may be restricted.

What responsibilities do I have when using this article?

When

Dates and time periods associated with this article.

Creation Date

  • February 25, 2016

Added to The UNT Digital Library

  • Oct. 6, 2017, 9:34 a.m.

Description Last Updated

  • Nov. 30, 2023, 11:04 a.m.

Usage Statistics

When was this article last used?

Yesterday: 0
Past 30 days: 3
Total Uses: 125

Interact With This Article

Here are some suggestions for what to do next.

Start Reading

PDF Version Also Available for Download.

International Image Interoperability Framework

IIF Logo

We support the IIIF Presentation API

Leonard, Tammy; Powell-Wiley, Tiffany M.; Ayers, Colby; Murdoch, James; Yin, Wenyuan & Pruitt, Sandi L. Property Values as a Measure of Neighborhoods: An Application of Hedonic Price Theory, article, February 25, 2016; Riverwoods, Illinois. (https://digital.library.unt.edu/ark:/67531/metadc1010757/: accessed April 15, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting University of North Texas.

Back to Top of Screen