Date of Graduation

Spring 2019

Document Type

Honors Research Project

Degree Name

Bachelor of Arts

Major

Economics

Research Sponsor

Dr. Francesco Renna

First Reader

Dr. Francesco Renna

Second Reader

Dr. Amanda Weinstein

Abstract

Crime is an obvious unwanted problem in any population anywhere in the world. Not only does it present problems for public safety, but it crime has negative monetary costs as well. One such way these costs can be observed is in their effect on property values. Past studies have examined this relationship between crime and housing values using the hedonic housing price model and spatial analysis, and I attempt to perform a similar analysis, but with the inclusion of new variables and spatial techniques, for the City of Akron, Ohio. With 2017 housing sale data provided by the Summit County Fiscal Office, and 2017 criminal arrest records gathered from the City of Akron’s Police Department Records, I analyze the spatial impact between 10 different types of crimes and their effects on nearby housing values. Using an OLS model that incorporates a high school area controlling variable, this study quantifies the effect the presence a particular crime within a mile and half mile of a house has on that houses property value. This study finds that crimes become more damaging the closer they get to a property, and that violent crimes tend to be more damaging than property crimes.

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