Analyzing Mature Suburbs in Ohio through Property Values
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Recently, many mature suburbs have become concerned that history will repeat itself and they will see the same decline that central cities have witnessed. This study uses mixed methods to create a definition of mature suburbs, to provide an overview of public policies that benefit homeowners in mature suburbs, to analyze how property values of single family homes in mature suburbs have behaved, and to analyze what specific factors have influenced property values of single family homes in mature suburbs compared with those in central cities and developing suburbs. Three counties in Ohio are exa...
Recently, many mature suburbs have become concerned that history will repeat itself and they will see the same decline that central cities have witnessed. This study uses mixed methods to create a definition of mature suburbs, to provide an overview of public policies that benefit homeowners in mature suburbs, to analyze how property values of single family homes in mature suburbs have behaved, and to analyze what specific factors have influenced property values of single family homes in mature suburbs compared with those in central cities and developing suburbs. Three counties in Ohio are examined: Cuyahoga (Cleveland area), Franklin (Columbus area), and Hamilton (Cincinnati area). Quantitative analyses of the mature suburbs in the study show that there is no overall suburban decline in terms of property values, although some communities should be concerned with their appreciation rates. Housing space and adjacency to work places and transportation networks matter. Expert interviews reveal that despite the common perception of a policy blindspot some policies do benefit homeowners in mature suburbs.
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