Living on the edge: residential property values in the urban-rural interface.

摘要

This study estimates the contribution of both urban-rural fringe location and lake proximity on residential property values in three upstate counties of South Carolina in the USA through estimation of spatial hedonic housing price models. The study area ranges from sloping to moderately hilly uplands of the Piedmont Plateau to the steep uplands of the Blue Ridge Mountains. The study includes data for 3052 private arms-length sales of single-family homes conducted between 1999 and 2001. Location in the urban fringe and the urban-rural interface are found to have a positive impact on residential housing values relative to either urban or more rural locations. Lakes in the upstate contribute positively to housing values to the extent that the house has a view of a lake, lake access, or lake frontage. In conclusion, residents place a significant added value on living in less urbanized environments or on lake proximity in the upstate of South Carolina. It is suggested that quality of life in the growing urban fringe should be maintained or enhanced.