Impact of Transit on Multifamily Property Values: A Meta-Analysis

As many cities continue to grow, they face housing shortages, witness increased automobile congestion, and subsequent air pollution. Promoting transit-oriented, multifamily housing is one way some municipalities are combating the challenges associated with growth worldwide and in turn promoting healthier places to live and reduced suburban sprawl. And where allowed, the market has responded to support this type of growth. As this kind of development has expanded, so has the research investigating the link between real estate values and transit proximity. However, the results of those inquires have been mixed. There is need to generalize the findings to provide streamlined evidence to planners and policy makers that wish to create sustainable and equitable cities. This research aims to fill a gap in the literature by conducting a meta-analysis of transit premiums for multifamily housing.