Is Bike Share an Amenity?: An Exploration of Bike Share’s Effect on Single-Family Home Values in Minneapolis
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Bicycle sharing systems are rapidly expanding to cities across the globe. Much research has been conducted on transportation and health related benefits purported to occur with bike share implementation, but few studies have sought to understand the economic impacts of bike share. This research builds two hedonic models to estimate changes in single family home prices in Minneapolis, Minnesota based on proximity to the Nice Ride bicycle sharing system. The models suggest that changes in value may be negative in many neighborhoods, though results are not uniform. Other studies have found positive impacts on other types of housing, indicating that further research is necessary to fully understand in what types of circumstances bicycle sharing systems have positive or negative effects on home values.