Determining the Factors Affecting the Growth of Land Value in the Greater Dallas – Fort Worth – Arlington Area: Focused on Residential Land Value

Abstract

Residential land value in Texas has been growing over the past twenty years. In particular, the greater Dallas-Fort Worth – Arlington (DFW – A) area has shown a substantial growth in residential land value. However, the causes that might have contributed to this growth in land value are as numerous as they are varied. This paper examines the issue of continuous rising prices of residential lands in the greater DFW – A area and generates determining causes. Cutting-edge machine learning and graphical approaches are utilized to analyze complex interactions of various factors determining the growth of this land value. Knowing the factors that determine the land value will help various stakeholders in the industry to make better-informed decisions with regards to land transactions. Direct factors affecting land values in greater DFW-A area are past selling price, personal disposable income and change in population.