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The Land Value Gradient in a (Nearly) Collapsed Urban Real Estate Market

The Land Value Gradient in a (Nearly) Collapsed Urban Real Estate Market ABSTRACT: 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) http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Land Economics University of Wisconsin Press

The Land Value Gradient in a (Nearly) Collapsed Urban Real Estate Market

Land Economics , Volume 93 (4) – Oct 11, 2017

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Publisher
University of Wisconsin Press
Copyright
Copyright by the Board of Regents of the University of Wisconsin System.
ISSN
1543-8325
Publisher site
See Article on Publisher Site

Abstract

ABSTRACT: 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)

Journal

Land EconomicsUniversity of Wisconsin Press

Published: Oct 11, 2017

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