Graduation Year


Date of Submission


Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Manfred Keil

Rights Information

2022 Jayden J Ha


Changing residential land use restriction of single-family home lots into multi-family home lots is being pushed as a solution to shortage of housing across the United States. This paper examines the effect of land use restriction and other variables on the values of single-family residential homes. Using the Wharton Residential Land Use Regulatory Index developed in Gyourko (2006 and 2018), I found changes in land use restriction and real personal income to be significant. Excluding the outlier of change in home value, the San Francisco-Oakland-Hayward, CA MSA, change in land use restriction is no longer significant. Through further analysis, I confirm that the outlier drove the results of the former finding. The importance of increase in land use restriction on explaining the outlying increase in home values in the San Francisco-Oakland-Hayward, CA MSA makes me believe that there is a relationship between the two variables, though the extent of the relationship needs to be further examined.

This thesis is restricted to the Claremont Colleges current faculty, students, and staff.