Rent Growth Near Rail Stations after the Great Recession

During the post-recession period, rental prices have seemingly outpaced the average market in transit-oriented developments (TOD), characterized by walkable, transit-accessible, compact, and mixed-use neighborhoods. This study examined rent growth in station areas, including TODs after the Great Recession, from January 2012 to June 2016. The study compares three types of regression methods, including 1. Ordinary least squares (OLS) regression, 2. Hierarchical spatial autoregressive model (HSAR), and 3. Geographically weighted regression (GWR). The results show that OLS and HSAR models follow the same pattern, revealing that density, walkability, percentage White, and income are positively associated with increases in rents. In contrast, land use mix, percentage Black, increasing distance to the station, and distance to the central business district (CBD) were each associated with downward pressure on rents. The GWR model revealed the significance and influence of independent variables vary from region to region and within a given region