Variable Descriptions and Summary Statistics
| Variable | Description | Mean | Std. Dev. |
|---|---|---|---|
| REALPRICE | Property sale price (2016 dollars) | 172,508.22 | 139,209.51 |
| AGE | Age of the property (years) | 37.42 | 24.34 |
| STORIES | Number of stories | 1.30 | 0.40 |
| RMTOT | Total number of rooms | 6.86 | 1.69 |
| FP a | 1 if property has a fireplace | 3,289 | 46.51 |
| FIXTOT | Total number of fixtures | 7.62 | 3.40 |
| SFLA | Square footage (living area) | 2,049.42 | 977.77 |
| ACRES | Lot area (acres) | 0.36 | 0.90 |
| GASFUELa | 1 if the property uses gas as heating fuel | 1,298 | 33.51 |
| ELECTRICFUELa | 1 if the property uses electric heating | 118 | 10.8 |
| CENTRALHEATa | 1 if the property has central heat and air | 8,527 | 30.95 |
| POORCONDITIONa | 1 if the property was sold in poor condition | 39 | 6.23 |
| GOODCONDITIONa | 1 if the property was sold in good condition | 231 | 15.01 |
| BRICKa | 1 if construction is mainly brick | 6,633 | 45.31 |
| FRAMEa | 1 if construction is mainly wood frame | 1,215 | 32.58 |
| TOWNHOUSEa | 1 if property is a townhouse | 61 | 7.68 |
| PBH | Percentage of African American households | 39.40 | 32.01 |
| PHH | Percentage of Hispanic households | 5.49 | 7.21 |
| URATE | Unemployment rate (percent) | 8.42 | 6.16 |
| MEDHHINC | Median household income (dollars) | 65,797.31 | 32,356.37 |
| τ2011a | 1 if the property was sold in 2011 | 1,557 | 36.12 |
| τ2012a | 1 if the property was sold in 2012 | 1,863 | 38.75 |
| τ2013a | 1 if the property was sold in 2013 | 1,955 | 39.46 |
| τ2014a | 1 if the property was sold in 2014 | 1,769 | 37.99 |
| τ2015a | 1 if the property was sold in 2015 | 2,066 | 40.27 |
| τ2016a | 1 if the property was sold in 2016 | 396 | 19.49 |
| comtime | Household’s commuting time (minutes per day) | 22.62 | 3.57 |
| dist2cbd | Distance to central business district (kilometers) | 19.33 | 9.14 |
| dist2road | Distance to the closest main road (kilometers) | 1.10 | 0.87 |
| dist2opensp | Distance to open spaces (kilometers) | 6.70 | 4.91 |
| dist2river | Distance to the (Mississippi) river | 19.24 | 9.46 |
| L50(μ) | Sound pressure level (decibels) | 49.94 | 2.76 |
| L50(μ)′ | Sound pressure level (millipascals) | 6,613.04 | 2,169.40 |
| POPDENSITY (δ) | Inhabitants per square kilometer | 1,124.79 | 633.84 |
| DIST2AIRPORT (r) | Distance to the airport (kilometers) | 18.21 | 8.20 |
| AZIMUTD (?) | Direction from the airport (radians) | 0.70 | 0.89 |
| N | Sample size | 9,606 |
Note: Summary statistics for 34 zip codes dummy variables are not reported, to save space, but are available upon request.
↵a Binary variables are assumed to follow the binomial distribution: means and standard deviations for these variables are computed for the binomial distribution.