Document Type
Working Paper
Date of This Version
4-1-2010
Keywords
impact analysis, stadiums, football, mega-event, tourism
Abstract
This paper estimates the public benefits to homeowners in cities with NFL franchises by examining housing prices rather than housing rents. In contrast to Carlino and Coulson (2004) we find that the presence of an NFL franchise has no effect on housing prices in a city. Furthermore, we also test whether the presence and size of the subsidy to the team affects values and find that higher subsidies for NFL stadium construction lead to lower house prices. This suggests that the benefits that homeowners receive from the presence of a team are negated by the increased tax burden due to the subsidies paid to the franchises.
Working Paper Number
1001
Recommended Citation
Kiel, Katherine A.; Matheson, Victor; and Sullivan, Christopher, "The Effect of Sports Franchises on Property Values: The Role of Owners versus Renters" (2010). Economics Department Working Papers. Paper 28.
https://crossworks.holycross.edu/econ_working_papers/28