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Does Restrictive Zoning Work?
Topics: Urban and Regional Planning
, Land Use
, Economic Geography
Keywords: Zoning, Historic District, Home Prices, Real Estate Session Type: Virtual Paper Abstract Day: Monday Session Start / End Time: 2/28/2022 09:40 AM (Eastern Time (US & Canada)) - 2/28/2022 11:00 AM (Eastern Time (US & Canada)) Room: Virtual 29
Authors:
Taylor Steven Price, University of Connecticut
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Abstract
Zoning has a significant impact on our built environment. Overlay zoning, an additional form of restrictive zoning, is a tool that municipalities utilize to control development and neighborhood density. This study analyzes the impact that historic district (H-1) and neighborhood character (ND-1) overlays have on home sale price in Lexington, KY. Results suggest that overlays have a significant positive impact on home sale price and that overlays exhibit positive price spillover on non-overlay homes. Results also suggest that whiter wealthier neighborhoods choose to implement overlays compared to the average neighborhood.
