This paper attempts to quantify the impact of Tacoma/Pierce County Habitat for Humanity on Pierce County, WA by looking at changes in the sale prices of residential properties in the neighborhoods in which Habitat for Humanity builds. Changes in price that occur for property sales located within 1000 feet of the Habitat for Humanity properties were compared with the magnitude for price changes int he rest of the census tract. This method controls for unobservable aspects of the neighborhoods that would impact housing values. This study does not provide any statistically significant evidence that supports the claim that Tacoma/Pierce county Habitat for Humanity has an impact on residential property values. However, we do find statistically significant evidence of negative price changes for nearby residential properties during the time that Tacoma/Pierce County Habitat for Humanity is doing construction in the neighborhood. This change in price is suspected to be an externality of construction or a negative signal produced by the presence of Habitat for Humanity.
Date of Completion
Shaffer, Hope, "The Impact of Tacoma/Pierce County Habitat for Humanity on Neighborhood Property Values" (2012). Economics Theses. 87.