Abstract

The primary purpose of this study was to examine the contribution of family-recreation amenities to home valuation in Southern Arizona communities. Although recreation amenities have become a frequent addition to housing developments, little research exists regarding the value these amenities contribute to home valuation. The sample consisted of 600 homes in master-planned communities and 600 homes in comparable traditional subdivisions. Using the hedonic pricing method, this study examined whether the inclusion of recreation amenities provides additional value to homes after structural and locational characteristics were controlled for. Blocked multiple regression analyses were used to determine the contribution of both individual and bundled recreation amenities to home valuation. The results of this study revealed a positive significant relationship between the bundle of community parks, neighborhood parks, and trails located within master-planned communities and home valuation, accounting for 17.45% of home value in this sample. In addition, the inclusion of family-recreation programming was found to contribute 6.82% of home value within master-planned communities. The findings suggest the inclusion of recreation amenities may be an appropriate way to revitalize communities, to increase the tax base for new housing developments, and to attract residents during a time of economic recession.

Degree

College and Department

Marriott School of Management; Recreation Management

Rights

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