Abstract:
This thesis evaluates the influence of external factors on real estate prices in Washington, DC. Most peer reviewed real estate studies compare internal factors of housing units like flooring or number of bathrooms rather than external influences like Interstate access. This study looks at nine different external factors in general categories of zoning regulations, proximity to undesirable environmental influences, proximity to desirable transportation conveniences and the influence of defined growth districts. This study generated measurable interval and ratio dimensions from data provided by the District of Columbia government for each of the nine variables and compared it to the most significant internal factor: price per floor space. This study establishes the significance levels for each of the nine dimensions with arithmetic mean trend analysis and regression analysis. Then through Pearson correlation, Apriori association analysis and Decision Stump classification, this thesis found that proximity to historical districts has the most significant influence on real estate prices.
