Residential Land Values in Urbanizing Areas
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Zoning decisions related to residential lot size and density affect residential land value.
Effects of size on residential parcel value in Roanoke County, VA, are estimated with fixed
effects hedonic models. Parcel size; elevation; soil permeability; proximity to urban areas,
malls, and roads; and location influence parcel value, but the effects vary by value of
construction and development status. Parcel value per square meter declines with increasing
parcel size. The estimated relationships could be used to evaluate zoning decisions in terms
of land values and tax revenues if model estimation uncertainties and responses by
developers to zoning strategies are considered.