Examining the Relationship between Crime Hot Spots and Housing Prices A Case Study in City of Seattle

Keywords: Crime; Spatial Analysis
Session Type: Virtual Poster Abstract
Day: Friday
Session Start / End Time: 2/25/2022 08:00 AM (Eastern Time (US & Canada)) - 2/25/2022 09:20 AM (Eastern Time (US & Canada))
Room: Virtual 38

Abstract

A number of previous research efforts have examined the link between crime and home prices using various crime indictors. To determine which crime indicator best explains the change in the housing index, two-way fixed-effects regression models were estimated. Additionally, we used distributed lag models to examine the lag impact of each of the five major kinds of crime, including assault, burglary, larceny, motor vehicle theft and vandalism. We discovered that, in the case of the city of Seattle, crime rate by area is the best crime indictor compared to crime rate by population, crime hot spots and the number of crimes recorded. In terms of the five distinct kinds of crime that we examine, only assault and motor vehicle theft (measured as crimes per acre) have a significant impact on the value of neighborhood housing.