Big Yards or Green Space?

4 Pages Posted: 27 Oct 2008

See all articles by Elizabeth Kopits

Elizabeth Kopits

U.S. Environmental Protection Agency (EPA)

Virginia McConnell

University of Maryland; Resources for the Future

Margaret Walls

Resources for the Future - Quality of the Environment Division

Date Written: October, 27 2008

Abstract

Zoning regulations that include a maximum housing density sometimes require that houses be "clustered" in one section of a subdivision and the rest of the land be left as a common green space. We examine house sales in one county on the fringe of the Washington, D.C., metropolitan area to determine if homebuyers value this common open space or if they prefer for the land to be distributed among the lots. The data indicate that households value strongly their own private lots. While we do find in our analysis that households value having common open space in their subdivisions and they value having a lot that is adjacent to subdivision open space, they do not value those amenities nearly as much as a larger lot.

Keywords: real estate, homebuyers, clustering, regulation, subdivision, sprawl, house value, lot size, urban-rural, fringe

JEL Classification: C1, C10, C50, D1, D12, H31, H2, K11, L7, L74, O18, O21, R14, R2, R21, R3, R31, R34, R38, R32

Suggested Citation

Kopits, Elizabeth and McConnell, Virginia and Walls, Margaret, Big Yards or Green Space? (October, 27 2008). Regulation, Vol. 31, No. 3, Fall 2008, Available at SSRN: https://ssrn.com/abstract=1290666

Elizabeth Kopits (Contact Author)

U.S. Environmental Protection Agency (EPA) ( email )

Ariel Rios Building
1200 Pennsylvania Ave., N.W.
Washington, DC 20460
United States

Virginia McConnell

University of Maryland ( email )

College Park
College Park, MD 20742
United States

Resources for the Future

1616 P Street, NW
Washington, DC 20036
United States

Margaret Walls

Resources for the Future - Quality of the Environment Division ( email )

1616 P Street, NW
Washington, DC 20036
United States

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