Spatial impacts of multimodal accessibility to green spaces on housing price in Cook County,Illinois |
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| Affiliation: | 1. Department of Information Science, University of Illinois at Urbana-Champaign, Room 68, Mumford Hall, 1301 W Gregory Dr, Urbana, IL, 60801, USA;2. Department of Landscape Architecture, University of Illinois at Urbana-Champaign, Room 68, Mumford Hall, 1301 W Gregory Dr, Urbana, IL, 60801, USA;3. Institute of Urban Development, Nanjing Audit University, Yushan West Road No. 86, Nanjing, China;4. Department of Urban and Environmental Planning, University of Virginia, Room 106, Peyton House, 164 Rugby Rd, Charlottesville VA 22903, USA;5. Department of Architecture, University of Illinois at Urbana-Champaign, 608 Lorado Taft Drive, Champaign, IL, 61820, USA;6. Department of Landscape Architecture, University of Illinois at Urbana-Champaign, Room 228, Temple Buell Hall, 611 Taft Drive, Champaign, IL, 61820, USA;1. Agricultural and Resource Economics, University of Tennessee, Knoxville, TN, United States;2. Department of Agricultural Economics, Kyungpook National University, Daegu, Republic of Korea;1. Interuniversity Department of Regional and Urban Studies and Planning, Politecnico di Torino, 10125, Torino, Italy;2. Interuniversity Department of Regional and Urban Studies and Planning, Politecnico di Torino, 10125, Torino, Italy;3. Interuniversity Department of Regional and Urban Studies and Planning, Politecnico di Torino, 10125, Torino, Italy;1. Department of Civil Engineering, Zhejiang University, Hangzhou 310058, China;2. Center for Real Estate Studying, Zhejiang University, Hangzhou 310058, China;1. University of Lodz, Faculty of Economics and Sociology, Social-Ecological Systems Analysis Lab, Poland;2. Chalmers University of Technology, Department of Architecture and Civil Engineering, Sweden;3. Department of Business Administration, Inland School of Business and Social Sciences, Inland Norway University of Applied Sciences, Norway;4. Norwegian Institute for Nature Research (NINA), Norway |
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| Abstract: | This study explores the impacts of multimodal accessibility to green space on housing price. Quantifying the benefits of green space accessibility is important for supporting green infrastructure planning and guiding land use development. In this study, we calculate multimodal travel times (walking and driving) from each residential property in Cook County (Chicago metro), Illinois to each articulated (public or significant private) green space. A gravity-model based method is used to compute accessibility (by travel mode), which considers the access to multiple green spaces and weights prioritization. Green spaces are divided into seven categories depending on their type and size to differentiate their potential benefits. Hedonic models using housing structural features, locational attributes, socio-economic factors and green space accessibility as explanatory variables, are used to evaluate housing price (using housing transactions records from 2010 sales in the county). The spatial effects of green space accessibilities on housing prices are explored by an Ordinary Least Squares (OLS) regression, with and without fixed locational effects, and a Geographically Weighted Regression (GWR). Results show walking and driving accessibility to all sizes of recreational, medium conversational and private green spaces present positive impacts on housing price, with some negative impacts to larger (and smaller) conservation areas. The relationship also exhibits different heterogeneous spatial pattern over the study area between walking and driving accessibility to green space, possibly related to economic variation. |
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| Keywords: | Green space Housing price Multimodal accessibility Hedonic model |
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