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Price gradient analysis of the Washoe County housing market with emphasis on the impact of recent employment gains in Sparks, NV Industrial Centers.
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This paper seeks to understand the role of the Tahoe Reno Industrial Center and freeway accessibility in determining housing prices in the Washoe County housing market in recent years as well as comparing different models. This is accomplished through hedonic, repeat sales, and difference in difference regression analysis. Findings show there are optimal distances from a freeway to increase home price as well as evidence to conclude the Tahoe Reno Industrial Center has increased housing prices by a small amount in recent years on the east side of Washoe County closest to the Industrial Center for a “medium” priced homes. This is in contrast to the popular opinion and news reports of the Industrial Center being the cause of large housing price increases in Sparks. While housing prices in Washoe County have recently seen large increases, the cause could instead be a recovery from the Great Recession or other reasons and not directly related to the increased employment and opening of the Industrial Center and its occupants in Sparks.