The Market Value Analysis (MVA) utilizes local data sources to create a model that assesses residential market value on a block by block basis. Reinvestment Fund, a community development financial institution in Philadelphia, developed the MVA methodology to guide their community development investment. Reinvestment Fund has done MVAs in multiple peer cities, which use the resulting tool to target programs and interventions for maximum impact. More information about the MVA approach is available here.
What is the purpose of the Market Value Analysis?
The City of Kansas City, Missouri pursued the Market Value Analysis with a group of community development stakeholders in order to improve collective understanding of our residential housing market. Understanding how markets differ across neighborhoods, and where different markets intersect, potentially allows the city and other stakeholders to target appropriate housing and community development interventions to locations throughout the city. The MVA will be used in tandem with other datasets to better understand what impacts the residential housing market.
How are the Market Value Analysis categories determined?
To develop this Market Value Analysis, The Reinvestment Fund utilized a six-step process that relied on a variety of data sources from the City of Kansas City, Missouri, private sector data suppliers, and U.S Census information. Once the data was collected, it was validated by multiple visual surveys and local stakeholders in the community. Using Census block group geographies, a cluster analysis was then used to identify areas with common attributes. Local experts examined the results for accuracy and additional visual surveys were completed. Based on feedback and the accompanying surveys, the analysis was continually re-solved and re-inspected until areas were accurately represented. To get a closer look at the data used to create the Market Value Analysis categories, visit our Open Data portal where the information is available in both tabular and georeferenced formats. The raw tabular data uses abbreviated field names that are described in greater detail here.
Variables used to determine how block groups were categorized
Note: Dollar amounts shown in constant 2016 values.
If you have questions or comments:
Brian Jackson – City Planning & Development
Kate Bender – Office of City Manager