Cities & Research: Economist Finds Property Values Rise In Historic Districts
Cities & Research: Economist Finds Property Values Rise In Historic Districts
Values for single-family residential properties in the National Register and local historic districts in Georgia rose 13-14 percent and 7 percent before they were designated historic properties, according to research by Georgia State University economist Carlianne Patrick.
Patrick decided to do the research when she found there was not a wide array of available research on property values of historic district designation. She is an assistant professor in Georgia State’s Andrew Young School of Policy Studies.
“I felt that I could design a study to help fill this gap,” she said. “It seemed to me that the often passionate debates around historic district designations would benefit from causal evidence on some of the key issues, particularly causal evidence that differentiated between National Register and local historic districts.”
The research addresses a common belief that historic districts are associated with negative property values.