Abstract
This thesis attempts to discover through hedonic price theory whether urban form (especially as characterized as desirable by the New Urbanism movement) is valuable to home buyers in the city of Sacramento. If so, home buyers will pay a premium for homes in neighborhoods that exhibit urban form qualities closely resembling those of New Urbanist neighborhoods. Sources of Data: Sample data for the City of Sacramento is from four sources: 1) Housing related data was obtained from Multiple Listing Service (MLS) for the Sacramento six county regions. 2) Demographic, economic, and educational data for the City of Sacramento is from the 2000 U.S. Census SF3 data tables. 3) Spatial data related to land use, streets, parks, parcels, major roads, highways, light rail, and intersections, is from the City of Sacramento Community Development Department. Conclusions Reached: This study confirms the findings by other researchers that urban form affects home value, all else being equal. The findings reveal that homes located in the city of Sacramento that are situated in neighborhoods with a New Urbanist-style urban form sell for a 4.25% premium compared to homes located in a typical suburban neighborhood. Furthermore, this indicates, based on the sample data, that there is a measurable preference for a New Urbanist-style urban form.