Assessing the Impacts of Road Diets on Real Estate Property Values: A Case Study in Fresno, CA

Abstract: This research paper examines the impact of road diet completions on property values in the city of Fresno, California. Focusing on six road segments where road diets were implemented between the years 2003 and 2018, the study employs Geographic Information System software (ArcGIS), to delineate property boundaries and analyze property value trends. Real estate property transaction data spanning from the years 2000 to 2019, sourced by the Gazarian Real Estate Center, provides the basis for evaluating fluctuations in property values. The data reviews sale transactions before, during and after construction of the road diets, and compares the results using box and whisker charts. Furthermore, the study includes a sentiment survey conducted among property owners residing directly on the roads subjected to road diet transformations. The survey aimed to learn the perceptions of residents regarding the impact of road diets on neighborhood quality and property values. By comparing survey findings with empirical data, the research seeks to discern any significant changes in property values attributable to road diet implementation. This approach provides an understanding of the localized effects of road diets on property values. The findings indicate that road diet implementations have little to no effect on residential property values in the city of Fresno, CA.