As concerns about sustainability and transportation equity have grown, communities across the country have increasingly pushed for expanded bike infrastructure, leading to rapid development of bike lanes in recent years. As these investments continue, the need for quantitative methods to measure the value of bike lanes has become more important. Because bike lanes are public amenities built and maintained by local governments rather than traditional market goods, they lack the price signals that make it easy to assess their economic value or the social benefits they provide. This study addresses that challenge by examining how proximity to the nearest bike lane influences home prices, using that relationship to estimate the value of three bike lanes in Knoxville, Tennessee.
