The Relationship of Local Public Park and Recreation Services to Residential Property Values

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Abstract
Multiple regression analyses were conducted to determine the relationships of residential property values to two measures of parks and recreation services; per capita expenditures for parks and recreation services; and the acreage of park land per 1,000 population. A significant positive relationship between per capita expenditures and the sales price of property was found to exist in one sample, but this relationship could not be inferred to exist in the population because of a finding of no significant difference upon cross-validation to another sample. The acreage of park land per 1,000 population was not found to be significantly related to sales price. It was concluded that there was no evidence of a relationship between parks and recreation services and property values.