Skip to main content

LUP Student Papers

LUND UNIVERSITY LIBRARIES

The Impact of Urban Green Spaces on Housing Prices in New York City

Steinfeld, Juliane Felicia LU (2025) EOSK12 20251
Department of Economic History
Abstract (Swedish)
This study examines the impact of newly built parks on housing prices in New
York City between 2011 and 2023. The case of New York City is especially interesting due to
its high amount of new urban greening projects during the last few decades. Related to the
different benefits of urban greening, there is evidence that parks increase the desirability of a
neighborhood and thereby raise property values, which in turn often leads to gentrification.
The study uses the framework of the hedonic pricing model and a ZIP code level panel
dataset, which is analysed through fixed effects regressions to assess whether park openings
are capitalized into housing prices and to whether larger parks have a bigger impact compared
to smaller parks.... (More)
This study examines the impact of newly built parks on housing prices in New
York City between 2011 and 2023. The case of New York City is especially interesting due to
its high amount of new urban greening projects during the last few decades. Related to the
different benefits of urban greening, there is evidence that parks increase the desirability of a
neighborhood and thereby raise property values, which in turn often leads to gentrification.
The study uses the framework of the hedonic pricing model and a ZIP code level panel
dataset, which is analysed through fixed effects regressions to assess whether park openings
are capitalized into housing prices and to whether larger parks have a bigger impact compared
to smaller parks. In contrast to many previous studies, the results reveal no statistically
significant effects for both of these specifications. By providing new evidence for New York
City on a city-wide level, this thesis contributes to important debates on environmental justice
and green gentrification, while also providing insights for future city planning and urban
policies. (Less)
Please use this url to cite or link to this publication:
author
Steinfeld, Juliane Felicia LU
supervisor
organization
alternative title
To what extent has the installation of new parks and influenced property prices in New York City from 2011 to 2023?
course
EOSK12 20251
year
type
M2 - Bachelor Degree
subject
keywords
Urban Greening, Property Prices, Green Gentrification, Urban Parks, Housing Affordability, New York City
language
English
id
9211968
date added to LUP
2025-10-27 08:32:01
date last changed
2025-10-27 08:32:01
@misc{9211968,
  abstract     = {{This study examines the impact of newly built parks on housing prices in New
York City between 2011 and 2023. The case of New York City is especially interesting due to
its high amount of new urban greening projects during the last few decades. Related to the
different benefits of urban greening, there is evidence that parks increase the desirability of a
neighborhood and thereby raise property values, which in turn often leads to gentrification.
The study uses the framework of the hedonic pricing model and a ZIP code level panel
dataset, which is analysed through fixed effects regressions to assess whether park openings
are capitalized into housing prices and to whether larger parks have a bigger impact compared
to smaller parks. In contrast to many previous studies, the results reveal no statistically
significant effects for both of these specifications. By providing new evidence for New York
City on a city-wide level, this thesis contributes to important debates on environmental justice
and green gentrification, while also providing insights for future city planning and urban
policies.}},
  author       = {{Steinfeld, Juliane Felicia}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{The Impact of Urban Green Spaces on Housing Prices in New York City}},
  year         = {{2025}},
}