Economic impacts of land development: employment, housing, and property values. [Monograph]

Book · Thu Jan 01 04:00:00 EST 1976

OSTI ID:6631355

Muller, T

This report examines the effects of land development on three areas of the economy: employment, housing, and wealth. The main objective is to provide local governments with inexpensive methods for estimating the impact of new development on demand for employment and housing. Since both employment and housing effects are regional in nature, regional impacts are also noted. National patterns are shown to provide a basis of comparison between local data and national directions. Most changes in property value tend to occur at the neighborhood level. This is one reason for the comparatively limited interest in this subject at the community or regional level. The three areas examined in this study--employment, housing, and wealth--are viewed as one unit for analysis, since each interacts with the others. Additional employment resulting from industrial, commercial, or other development increases the demand for housing. In turn, changes in housing demand affect the value of the existing housing stock and developable land. Residential construction increases the supply of housing and thus affects both the price of existing dwelling units and potentially the level of inmigration to a community due to expanding employment opportunities. And higher per capita personal income resulting from expanded employment opportunities increases demand for housing. (Although income is not treated separately in this report, its relationship to employment, housing demand, and property value is noted.)

• OSTI ID: 6631355
• Country of Publication: United States
• Language: English

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