Civic Report
No. 34 March 2003


Who Really Benefits from New York City’s Rent Regulation System?

Table A-2: Explanatory Variables Used In Regression Analysis

 

Variable

Definition

Dependent Variable:

 

LMCRENT

Natural log of monthly contract rent

Independent Variables:

 

AMTBED

Number of bedrooms

 

AMTROOM

Number of total rooms

 

BLTPRE47

Built prior to 1947

 

BLT47T69

Built between 1947 and 1969

 

BRBOWIN

Broken or boarded up windows on street

 

GOODCOND

Excellent or good neighborhood

 

MADEFGE3

Unit has has three or more maintenance deficiencies

 

LENTEN99

Length of tenure

 

LENTENSQ

Length of tenure, squared

 

LOCATION

Series of variables designating locations listed in Table A-1

Table A-3: Hedonic Rent Equation, Unregulated Sector, Bronx and Upper Manhattan

Dependent Variable  

Natural log of monthly contract rent

Number of Observations  

369

Adjusted Squared Multiple R  

0.2551

Variable  

Coefficient

Std. Error

T

Intercept  

6.306

0.066

96.14

Number of bedrooms  

0.158

0.035

4.55

Number of other rooms  

-0.001

0.026

-0.04

Built prior to 1947  

-0.081

0.034

-2.36

Broken or boarded-up windows on street  

-0.045

0.060

-0.76

Excellent or good neighborhood  

0.078

0.044

1.77

Length of tenure  

-0.005

0.010

-0.44

Length of tenure, squared  

-0.001

0.001

-1.09

Bronx Zone 1  

-0.144

0.040

-3.62

Bronx Zone 5  

-0.077

0.044

-1.74

Table A-4: Hedonic Rent Equation, Unregulated Sector, Brooklyn and Staten Island

Dependent Variable  

Natural log of monthly contract rent

Number of Observations  

1162

Adjusted Squared Multiple R  

0.3154

Variable  

Coefficient

Std. Error

T

Intercept  

6.217

0.040

156.17

Number of bedrooms  

0.065

0.016

3.99

Number of other rooms  

0.063

0.012

5.47

Built prior to 1947  

-0.081

0.018

-4.40

Broken or boarded-up windows on street  

-0.038

0.024

-1.57

Excellent or good neighborhood  

0.036

0.021

1.73

Length of tenure  

-0.019

0.005

-4.27

Length of tenure, squared  

0.000

0.000

1.08

Brooklyn Zone 4  

0.041

0.025

1.64

Brooklyn Zone 5  

0.102

0.027

3.82

Brooklyn Zone 6  

-0.086

0.027

-3.16

Staten Island Zone 18  

-0.060

0.031

-1.93

Table A-5: Hedonic Rent Equation, Unregulated Sector, Lower- and Mid-Manhattan

Dependent Variable  

Natural log of monthly contract rent

Number of Observations  

286

Adjusted Squared Multiple R  

0.4279

Variable  

Coefficient

Std. Error

T

Intercept  

7.107

0.095

74.85

Number of bedrooms  

0.131

0.044

2.71

Number of other rooms  

0.130

0.035

3.76

Built prior to 1947  

-0.228

0.047

-4.88

Built btw. 1947 and 1969  

-0.080

0.063

-1.27

Excellent or good neighborhood  

0.085

0.042

2.01

Three or more maintenance deficiencies  

-0.065

0.088

-0.74

Length of tenure  

-0.029

0.028

-1.03

Length of tenure, squared  

-0.003

0.003

-0.81

Zone 10 Manhattan  

0.073

0.074

0.98

Zone 11 Manhattan  

0.028

0.068

0.41

Zone 12 Manhattan  

0.007

0.068

0.10

Zone 13 Manhattan  

0.005

0.060

0.09

[Table 1] [Table 2] [Table 3] [Table 4] [Table 5]
[
Table 6] [Table 7] [Table 8] [Table 9] [Table A-1] [Table A-2]
[
Table A-3] [Table A-4] [Table A-5] [Table A-6] [Table A-7]
[
Table A-8] [Table A-9] [Table A-10] [Table A-11]