Degree Year

2008

Document Type

Thesis

Degree Name

Bachelor of Arts

Department

Economics

Advisor(s)

Hirschel Kasper
Jordan Suter
Barbara Craig
Luis Fernandez

Keywords

House price, College, University, Ohio, Hedonic, Property value, House sale, Local impact

Abstract

Using a hedonic pricing model, I estimated the effects of changes in college and university characteristics on house prices in three regions of Ohio. I used cross-sectional housing and census data for the year 2000, compiled by David M. Brasington of Louisiana State University, and college data from Barron’s Profiles of American Colleges 2001. I measured college and university impact within radii ranging from one to two miles around a campus admissions office, allowing for an investigation of how the impact of academic institutions changes with distance. I found that changes in campus size, undergraduate student population, graduate student population, on-campus student housing, college competitiveness, the presence of a Bachelor of Music program, number of college sports, the presence of fraternities and sororities, and the presence of other college characteristics that are not specifically controlled for have statistically significant effects on house prices within about a 1.5-mile radius of a college admissions office. Bachelor of Music programs, increases in graduate student population, and increases in campus size have no effect or a positive effect on house prices in all three regions; increases in full-time undergraduate population have no effect or a negative effect on house prices in all three regions.

Included in

Economics Commons

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