Working Papers
The Heterogeneous Impact of a Homicide on Nearby Property Values Across Demographic Characteristics
This paper investigates the heterogeneous impact of homicides on property values in Miami-Dade County from 2010 to 2018, focusing on demographic characteristics of offenders and victims using a difference-in-difference-in-differences methodology. The findings reveal a significant 4.8% decrease in property values within 0.1 miles of a homicide, with the effect dissipating beyond this distance. Importantly, the study uncovers no significant impact based on offender demographics but identifies substantial negative effects for homicides involving victims under 18. Homes near such incidents, especially those involving young white female victims, see a 16.3% reduction in value. These results highlight the critical role of demographic factors in shaping the housing market's response to crime, emphasizing the need for targeted policies to mitigate these impacts and enhance community resilience.
Do Renters Actually Cause Homeowners to Move: New Evidence from a Nearest Neighbors Design
This paper examines how the presence of renter-occupied single-family homes affects the mobility of nearby homeowners. Using a nearest-neighbor design, I analyze data from 2010 to 2018 in Miami-Dade County to compare move rates of owner-occupied homes with a new renter-occupied neighbor against those further down the same block. Findings indicate that homeowners with next-door renters have a 7.24% higher move rate, increasing to 11.63% when the comparison is limited to homes just two doors down. The effect is pronounced in neighborhoods with very low or very high rental rates and high churn rates, and is particularly strong for corporate-owned rentals. These results suggest that the impact of renters on homeowner mobility is context-dependent, highlighting the need for nuanced housing policies to mitigate potential negative effects and promote neighborhood stability.
The Impact Of Close Proximity to Metrorail Stations On Property Values During COVID-19 in Miami-Dade County
This paper examines the impact of proximity to Metrorail transit stations on property values in Miami-Dade County during the COVID-19 pandemic. Utilizing a difference-in-differences methodology, the analysis compares property values within one-third mile of a Metrorail station to those between one-third and one mile, using data from 2017 to 2021. Results indicate a 12.2% decrease in property values within one-third mile of a station post-COVID-19, with a 3.9% decrease up to one mile, both significant at the 10% level. The negative effects are more pronounced in Democrat-leaning, high-density, high-income, and older neighborhoods. These findings suggest that the pandemic has significantly altered households' valuation of urban amenities, emphasizing the need for targeted policy interventions to support affected communities and enhance urban resilience.