RT Journal Article SR Electronic T1 Measuring the Price Impact of Municipal Incorporation on Homeowner Associations JF Land Economics JO Land Econ FD University of Wisconsin Press SP 91 OP 116 DO 10.3368/le.86.1.91 VO 86 IS 1 A1 Rogers, William H. YR 2010 UL http://le.uwpress.org/content/86/1/91.abstract AB This paper investigates the impact of municipal formation, and subsequent change in land-use restrictions on existing deed-restricted subdivisions (DRSs) using a unique case in the suburbs of Saint Louis County: the city of Wildwood incorporated in 1995 even though a majority of houses were already in a homeowner association. Data was collected on single-family housing sales from 1990 through 2000 and on characteristics of 830 DRSs. Using a hedonic model, the surrounding 10 municipalities, and unincorporated area, results show a decline in DRS premiums after incorporation; however, the decline seems to have been concentrated in lots larger than 1 acre. (JEL D71, R14)