Airport Expansion and Housing Growth: Understanding the Relationship
In this study, we explore the correlation between airport expansion and housing growth in major cities across the United States.
According to recent airport traffic data, Chicago O'Hare International airport in Chicago, Illinois, saw an average of 22,409,831 passengers in 2022, while Los Angeles International airport in Los Angeles, California, recorded 19,654,430 passengers during the same period.
Interestingly, a study on housing inventory found that Chicago has one of the tightest housing markets, with an average days on market of 30 days, while Los Angeles has a median price of $400,000.
We also analyzed the relationship between airport expansion and housing growth in other cities. For instance, Dallas/Fort Worth International airport in Dallas, Texas, saw an average of 25,576,831 passengers in 2022, which contributed to a significant increase in housing prices. On the other hand, Orlando International airport in Orlando, Florida, experienced a decline in passenger traffic, resulting in a decrease in housing prices.
The data suggests that airport expansion and housing growth are closely linked. Cities with expanded airports tend to experience increased passenger traffic, which can lead to higher housing prices. However, the relationship is not straightforward, and other factors such as housing inventory and market conditions also play a significant role.
Key Findings
Chicago, Illinois
- Median sale price: $N/A
- Homes sold: N/A
- Inventory: N/A
- Days on market: N/A days
- Average passengers in 2022: 22,409,831
Los Angeles, California
- Median sale price: $400,000
- Homes sold: N/A
- Inventory: N/A
- Days on market: N/A days
- Average passengers in 2022: 19,654,430
Dallas, Texas
- Median sale price: N/A
- Homes sold: N/A
- Inventory: N/A
- Days on market: N/A days
- Average passengers in 2022: 25,576,831
Orlando, Florida
- Median sale price: N/A
- Homes sold: N/A
- Inventory: N/A
- Days on market: N/A days
- Average passengers in 2022: 16,803,199
