Date of Award
Reston Virginia is a unique community that offers an abundance of public goods through its homeowner' s association, Reston Association. One question of interest is whether the fees charged by Reston Association to homeowner's extracts all of the public goods gains that result from Reston Association, s services. If this is true, then the selling price of a house should encompass this. Inthis paper, data were collected throughout Fairfax County housing, as well as data from Reston specifically, and a dummy variable was used to see if there is a price premium placed on housing on residential property in Reston. This paper finds no statistically significant difference between housing located in Reston versus the rest of Fairfax County; however, evidence is found that housing located within the Reston Town Center does carry a price premium for that community. Though it cannot be concluded that Reston Town Center offers more public goods in excess of fees than other communities, the results are consistent with this conclusion. This may provide some interesting implications for communities of suburban areas that are trying to build up new downtowns in suburbia. Finally, ideas for future research are suggested at the conclusion.
Stanfield, Josh, "Public Goods and Political Structures: The Story of Reston, VA" (2005). Theses, Dissertations & Honors Papers. 194.