Measuring Value of Housing Features

Project Description

The goal of this project is to analyze how specific housing characteristics contribute to the price of homes across Wisconsin. Using Wisconsin housing data from Zillow that includes geographic location and features of a house, I hope to estimate the value that can be gained through the addition of features such as a bedroom or a bathroom in relation to where a house is. Within that value estimate by location, I hope to find any relationship between population density and the neighborhood, and the price of a house's features. The objective of this project is to analyze the contribution of specific housing characteristics to the price of residential properties throughout Wisconsin. Utilizing the housing data for Wisconsin, I also intend to estimate the marginal value from the addition of features, in relation to the property's location and price of construction. Furthermore, within this location-specific value estimation, I aim to chart any relation between neighborhood population density and the valuation of a house's features.

Objectives

Find out how much an additional bedroom or bathroom increases home value

Find if the value of these features varies from state to state or even with in the state

Possibly find at what point we reach diminishing returns for adding the room against the price of construction

Find if geographic or demographic factors improve accuracy

Look into the consistency of housing prices from market to market

Create interesting ways to visualize these questions such as heat maps