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
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
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.
