Effects of thoroughfares on residential and commercial values in two cities : final report.
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2003-10-01
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Edition:Final report
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Abstract:The objectives of this study are (1) to gauge benefits in the way property values relate to highways and radial
thoroughfares in metropolitan Baltimore; (2) to compare these results specifically to studies done in Philadelphia,
Portland, Oregon, and other locations as mentioned in the literature, and (3) to detect and describe property valuation
patterns for main highways through Maryland’s Lower Eastern Shore and Highways
The project involved multiple regression analysis (an hedonic model) to determine the presence and nature of
apartment price gradients within the Baltimore Metropolitan area. Descriptive statistical analysis of recent sales of
apartments and commercial properties on Maryland’s Lower Eastern Shore was also conducted. Baltimore City and
County apartment real estate prices decreased with distance from the city center. Baltimore County apartment real
estate prices decreased with distance from 11 radial thoroughfares. No price gradient was found relating apartment
prices with distance to the Baltimore Beltway. Impacts of recent road widening of the radial thoroughfares were not
found. Otherwise, properties in the rural area of Maryland’s Lower Eastern Shore were found to cluster near the three
main highways and the towns consistent with general access to these features.
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