Madison's Fast Track? The Impacts of a Light Rail Transit System on Property Value in the Madison Area

Abstract

Because there does appear to be a link between property value and proximity to the rail, we will study the different variables that influence change. It is important to understand this change because property value is linked to many other issues. Some of these issues include property tax rates, mortgage and rent prices, insurance rates, displacement issues, and economic development of the entire city. In one way or another, changing property values from the proposed LRT in Madison will affect everyone in the area. In order to get a better idea on how Madison area property values will be affected by the proposed light rail system, we have looked at many cities that have implemented similar public transit systems. With these studies, we have considered the recurring variables that appear to be the most influential on property value. There appears to be a relationship between these variables and property value, and we hope to understand the trends in order to assert what the likely effects the proposed LRT system will have on property value in the Madison area.