Abstract
This research examines the impact of Work-From-Home (WFH) on housing prices in major urban areas, specifically investigating the differential effects based on industry susceptibility to WFH. The study draws upon the COVID-19 pandemic's expedited adoption of remote work, utilizing theoretical models and empirical analysis to explore how WFH influences housing prices, productivity, and spatial dynamics within urban settings. This research integrates the Bid-rent theory, agglomeration economies, productivity, and spatial dynamics to conceptualize the potential shifts in urban housing demand due to the presence of WFH. By leveraging indexed WFH data from Dingel and Neiman (2020), alongside demographic and housing data from the American Community Survey, the study critically examines the relationship between the concentration of WFH jobs and median housing values across major metro areas in the US. Contrary to the initial hypothesis predicting a negative relationship between WFH concentration and housing prices, the findings suggest a positive correlation, where an increase in WFH concentration is associated with a significant rise in median housing values. The study not only contributes to the understanding of WFH's impact on urban economics and housing markets but also highlights the need for further research on the long-term structural changes in work and living patterns post-pandemic.
Advisor
Burnell, Jim
Department
Business Economics
Recommended Citation
Aboagye-Wiafe, Emmanuel Jr., "Investigating The Impact of Work-From-Home On Housing Prices In Major Urban Areas" (2024). Senior Independent Study Theses. Paper 10948.
https://openworks.wooster.edu/independentstudy/10948
Disciplines
Business | Real Estate
Keywords
Housing market, Work-from-home (WFH), Bid-rent theory
Publication Date
2024
Degree Granted
Bachelor of Arts
Document Type
Senior Independent Study Thesis
© Copyright 2024 Emmanuel Aboagye-Wiafe Jr.
