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  • Thumbnail for A PROFESSIONAL SPORTS STADIUM’S IMPACT ON RENTAL VALUES
    A PROFESSIONAL SPORTS STADIUM’S IMPACT ON RENTAL VALUES by Kaplan, Jackson Liam

    This paper explores the spatial effect of a professional sports stadium on multi-family rents in US cities using a hedonic housing price model. Estimates based on Census block groups within 10-miles of every NBA, NFL, NHL, MLB, and MLS facility across 10 U.S. Metropolitan Statistical Areas suggest that median gross rents increase with the introduction of a professional sports stadium. The results also suggest that median gross rents are higher in block groups near the facilities and the impact lessons as distance from the facility increases. This study attributes the overall increase in rental value to a societal preference for entertainment and experience provided by a stadium environment.