Disaggregation of Local Apartment Markets by Unit Type Article

Wolverton, ML, Hardin, WG, Cheng, P. (1999). Disaggregation of Local Apartment Markets by Unit Type . JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS, 19(3), 243-257. 10.1023/A:1007884628153

cited authors

  • Wolverton, ML; Hardin, WG; Cheng, P



  • Recent market segmentation research has begun to delve into the issue of whether traditional property-type categories are sufficiently homogeneous to be modeled as aggregate real estate markets. This article extends the research on rental-property market segmentation by investigating the existence of apartment submarkets determined by unit type. The study finds that one-bedroom, one-bath units; two-bedroom, one-bath units; and two-bedroom, two-bath units function as distinct submarkets differentiated by property features, neighborhood location, and temporal changes in market rent.

publication date

  • January 1, 1999

Digital Object Identifier (DOI)

start page

  • 243

end page

  • 257


  • 19


  • 3