In market area analysis, what characteristic distinguishes a district from a neighborhood?
Correct Answer
A) A single predominant land use, such as apartment, commercial or industrial
A district is a type of market area marked by homogeneous land use, such as an apartment, commercial, industrial or agricultural district. A neighborhood is a group of complementary land uses, such as homes with supporting schools and shops. Size and public ownership do not define either term.
Why This Is the Correct Answer
A district is a type of market area marked by homogeneous land use, such as an apartment, commercial, industrial or agricultural district. A neighborhood is a group of complementary land uses, such as homes with supporting schools and shops. Size and public ownership do not define either term.
More Market Questions
Under USPAP Standards Rule 1-3(a), which item must an appraiser identify and analyze when necessary for credible results in a market value assignment?
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