This is the sixth in a series of posts about housing values in the historic Bon Air Neighborhood.as defined by the following boundaries: Furman Blvd on the east, Hikes Lane on the south, Bardstown Road on the East, and the Watterson Expressway/Taylorsville Rd on the North.
The database for this research was created from the Jefferson County Property Valuation Administrator (PVA) website and the Lojic.org website. Both have similar data, but the PVA site could be pasted into an Excel file. The database was compiled between February 2019 and December 2019. The information was subject to some change based on property sales and re-evaluations.
The statistical software that is being used for the analysis is JASP which is an open source program created by the University of Amsterdam.
The middle value is $122710 and the mean is slightly higher at $122976. The Maximum value happens to be a house owned by a trust, and may not necessarily be a rental.
The median for owner-occupied housing is about $13000 higher than that for the rentals, and the mean is just a little bit higher. It is interesting that the range of values is bigger than that of the rentals.
The database for this research was created from the Jefferson County Property Valuation Administrator (PVA) website and the Lojic.org website. Both have similar data, but the PVA site could be pasted into an Excel file. The database was compiled between February 2019 and December 2019. The information was subject to some change based on property sales and re-evaluations.
The statistical software that is being used for the analysis is JASP which is an open source program created by the University of Amsterdam.
Some more adjustments were made to the database. I will admit here that I was missing Johnston Way in the original database. I realized that after someone made a comment from a reader on Johnston Way. Overall, I do not think that the addition dramatically changed the overall values, it did up the number of rental houses in Bon Air to 238 units.
Today, instead of looking at who are the landlords of single family rentals, I thought that I would compare the value of rentals with owner occupied houses. The JASP package allows blocking certain values and the distinction of values can be determined.
First, the following table depicts the values of rental houses and houses that are included in this category due to being owned by trusts.
The middle value is $122710 and the mean is slightly higher at $122976. The Maximum value happens to be a house owned by a trust, and may not necessarily be a rental.
The following is the analysis for owner-occupied housing.
This fits with previous research about owner-occupied versus rental housing in a neighborhood. Rental properties do have lower values than owner-occupied. On the one hand the rationale in the research is that owner-occupied housing is better cared for and thus merits higher value. I see conversely that a landlord is in the rental business for profit, and if you can save money on paying less property tax.
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