A spatial hedonic analysis of the value of urban land cover in the multifamily housing market in Los Angeles, CA

This study looked at how residents of Los Angeles value urban trees and other urban green around their residences. Sales of multi-family houses were studied for two years (2003-2004) to assess the extent to which trees, irrigated grass, and unirrigated grass—at both the parcel level and the neighborhood level—affected sales prices. Two different statistical models were used to address spatial autocorrelation and unobserved characteristics (a geographically weighted regression model and a spatial Durbin model). The results indicate that more trees or more grass within the parcel did not increase the property value nor did more grassy areas within 200 m. More trees in the vicinity did have a positive impact. The authors suggest that the City of Los Angeles should explore planting trees on public property in the vicinity of multi-family housing, with a focus on disadvantaged communities.