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- Title
The Land Value Gradient in a (Nearly) Collapsed Urban Real Estate Market.
- Authors
Hodge, Timothy R.; Sands, Gary; Skidmore, Mark
- 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.
- Subjects
MICHIGAN; REAL property sales &; prices; REAL property; VACANT lands; URBAN land use; CENTRAL business districts
- Publication
Land Economics, 2017, Vol 93, Issue 4, p549
- ISSN
0023-7639
- Publication type
Article
- DOI
10.3368/le.93.4.549