RT Journal Article
SR Electronic
T1 The Land Value Gradient in a (Nearly) Collapsed Urban Real Estate Market
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 549
OP 566
DO 10.3368/le.93.4.549
VO 93
IS 4
A1 Hodge, Timothy R.
A1 Sands, Gary
A1 Skidmore, Mark
YR 2017
UL http://le.uwpress.org/content/93/4/549.abstract
AB This article uses data on 3,788 vacant land sales to explore the pattern of land values in the city of Detroit, Michigan. The analysis provides evidence of a U-shaped land value gradient. Land values are relatively high in and near the central business district (CBD), but the land value gradient is very steep; estimated land values drop precipitously to less than $1,000 for typical sized lot in a vast “donut” area surrounding the CBD. However, land values begin to rise near the city’s border. (JEL R14)