打印

作者

来源

REAL ESTATE ECONOMICS,Vol.46,Issue1,P.85-119

语言

英文

关键字

PROPERTY-VALUES; PUBLIC-SCHOOLS; PRICES; DESEGREGATION; HOMEOWNERSHIP; BOUNDARIES; OUTCOMES; STOCK; COST

作者单位

[Beracha, Eli; Hardin, William G., III] Florida Int Univ, Tibor & Sheila Hollo Sch Real Estate, 1101 Brickell Ave,Suite 1100S, Miami, FL 33131 USA. [Hardin, William G., III] Florida Int Univ, Jerome Bain Real Estate Inst, 1101 Brickell Ave,Suite 1100S, Miami, FL 33131 USA. Beracha, E (reprint author), Florida Int Univ, Tibor & Sheila Hollo Sch Real Estate, 1101 Brickell Ave,Suite 1100S, Miami, FL 33131 USA. E-Mail: eberacha@fiu.edu; hardinw@fiu.edu

摘要

Residential property amenities including school quality should be capitalized into both rent and property sale prices. Evidence of price and rent premiums for higher school quality is provided. The price premium for school quality for owners exceeds the premium for renters. The premiums paid by renters and owners vary with the likelihood the household directly uses school services, housing market conditions, whether the property is in an urban or suburban area and by the observed school quality in the years leading to the transaction. The larger price premium paid by owners is supported by enhanced liquidity and tempered price volatility for properties located in quality school districts.