How are neighbourhood design features valued across different neighbourhood types?

In this paper, we examine whether implicit prices of neighbourhood design features in the housing market vary significantly across traditional, neo-traditional, and conventional suburban neighbourhood types. The set of neighbourhood design features we examine here include neighbourhood development density, street network connectivity, pedestrian access to transit and commercial stores, and land use mixture. Using data from Washington County, Oregon, we first use statistical procedures to identify distinct neighbourhood types. We then employ hedonic price analyses and a series of spatial Chow tests to obtain implicit prices of design attributes for houses in each neighbourhood type. We find that traditional design features such as higher street network connectivity and better pedestrian access to transit and commercial stores are valued more in the traditional and neo-traditional neighbourhoods, and that conventional neighbourhood features such as lower housing density and higher degree of homogeneous land uses are valued more in the suburban neighbourhoods.