# RECORD 218db14f4ce7ac608cb6bc71c5735d8579cd337f
# TITLE: The impact of walkable environment on single-family residential property values
# YEAR: 2017.0  VENUE: nan  DOI: 10.5198/jtlu.2015.824
# AUTHORS: Yun-Tao Guo; S. Peeta; Sekhar Somenahalli
# PAGES: 21  CANDIDATE TABLE PAGES (1-based): []
# ABSTRACT: Due to the impact of urban sprawl, the need for responsible property investing, and the emerging evidence supporting the linkage between walkable environment (in terms of built environment and walk accessibility) and residential property value, there is a critical need to develop systematic methodologies to quantify the impact of walkable environment on residential property value. This study provides a new generalized dissimilarity index for quantifying land-use mix, a key component of built environment, and a new method for measuring a property’s walk accessibility and then links them to residential property values. Ordinary least squares (OLS) regression models are used to validate these methods by examining the empirical property data in Eastern Adelaide, Australia. The results of the OLS models show that the proposed dissimilarity index and property walk-accessibility method outperform other commonly used land-use mix quantification and walk-accessibility methods in estimating single-family residential property values in terms of the goodness-of-fit and explanatory power. This study provides insights for investors to understand the impact of walkable environment on single-family residential property values to enable them to make more informed decisions on property investment, and for planners to design neighborhoods featuring better walkable environments.


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The Journal  T  L U    http://jtlu.org
V. 10 N. 1 [2017] pp. 241–261
Abstract:  Due to the impact of urban sprawl, the need for respon-
sible property investing, and the emerging evidence supporting the 
linkage between walkable environment (in terms of built environment 
and walk accessibility) and residential property value, there is a criti-
cal need to develop systematic methodologies to quantify the impact 
of walkable environment on residential property value. This study 
provides a new generalized dissimilarity index for quantifying land-
use mix, a key component of built environment, and a new method 
for measuring a property’s walk accessibility and then links them to 
residential property values. Ordinary least squares (OLS) regression 
models are used to validate these methods by examining the empirical 
property data in Eastern Adelaide, Australia. The results of the OLS 
models show that the proposed dissimilarity index and property walk-
accessibility method outperform other commonly used land-use mix 
quantification and walk-accessibility methods in estimating single-
family residential property values in terms of the goodness-of-fit and 
explanatory power. This study provides insights for investors to under-
stand the impact of walkable environment on single-family residential 
property values to enable them to make more informed decisions on 
property investment, and for planners to design neighborhoods featur-
ing better walkable environments.
1	
Introduction
Over the past decade, extensive studies have been performed to address the negative impact of land-
use zoning ordinances that result in most residential properties being developed at locations featuring 
highly segregated land uses and curvilinear or cul-de-sac street patterns (Matthews and Turnbull 2007). 
Substantial distances have been created between residential properties, commercial properties, and ser-
The impact of walkable environment on single-family residential 
property values
Yuntao Guo 	
Srinivas Peeta
Purdue University	
Purdue University
guo187@purdue.edu	
peeta@purdue.edu
Sekhar Somenahalli
University of South Australia
Sekhar.Somenahalli@unisa.edu.au
Article history:
Received: April 29, 2015
Accepted: June 17, 2015
Available online: September 21, 
2015
Copyright 2015 Yuntao Guo, Srinivas Peeta & Sekhar Somenahalli
http://dx.doi.org/10.5198/jtlu.2017.824
ISSN: 1938-7849 | Licensed under the Creative Commons Attribution – Noncommercial License 3.0 
The Journal of Transport and Land Use is the official journal of the World Society for Transport and Land Use 
(WSTLUR) and is published and sponsored by the University of Minnesota Center for Transportation Studies.