Property values are affected by many factors including a variety of market conditions. Research has shown that major transit investments such as commuter rail generally yield positive effects on property values. There is potential for an increase in property values in the areas surrounding proposed commuter rail stations, as commuter rail access can increase the convenience and desirability of nearby residential, commercial, and office properties. Commuter rail transit can also contribute to existing market forces that can increase the potential for TOD or redevelopment. Development and redevelopment are managed by the local jurisdictions in the Project Area and are driven predominantly by regional and local economic conditions and land uses as defined in locally adopted comprehensive plans and zoning laws. Transit projects, including commuter rail lines, can advance the timing and increase the intensity of development, especially in areas near proposed stations, as allowed by local comprehensive plans. The direct impacts of a rail project on property values are difficult to assess conclusively because there are so many other factors that also affect property values. Continuing population growth and a strengthening of the local economy within the Project Area would also contribute to redevelopment and increased property values.

Studies on transit investments and property values include:

"Impacts of Rail Transit on Property Values"

Roderick B. Diaz Booze | Allen & Hamilton Inc. Mclean, VA

"Effects of Light and Commuter Rail Transit on Land Prices: Experiences in San Diego County"

Roberto Cervero

"The Effect of Rail Transit on Property Values: A Summary of Studies"

Parsons Brinckerhoff