The exact nature of land price gradients, the surface describing how land prices change with location, can be difficult to uncover. This is particularly true for cities with few vacant lots or in more rural regions where the number of land sales in a given area is limited. This article outlines...

The price of a single-family house can be viewed as the bundle of the land price, and the replacement/construction cost of the structure, adjusted for depreciation. Given the difficulty in obtaining accurate estimates of each of the elements, previous researches estimate land price as the...