Editing Transit-oriented development (section)

=== Economic ===
TOD, specifically along light rail transit lines, have been seen to increase the amount of new businesses in Phoenix within one mile of a station, with businesses in the knowledge, service, and retail industries experiencing 88%, 40%, and 24% more new starts respectively than non-TOD areas. However, a decrease in manufacturing facilities has also been noted in TOD; similar results are likely to be seen in other U.S. cities.<ref>{{Cite journal |last=Credit |first=Kevin |date=October 2018 |title=Transit-oriented economic development: The impact of light rail on new business starts in the Phoenix, AZ Region, USA |url=http://journals.sagepub.com/doi/10.1177/0042098017724119 |journal=Urban Studies |language=en |volume=55 |issue=13 |pages=2838–2862 |doi=10.1177/0042098017724119 |bibcode=2018UrbSt..55.2838C |s2cid=158281230 |issn=0042-0980|url-access=subscription }}</ref> The value of condominiums in San Diego generally increases with decreasing distance from light rail transit stations, increasing walkability of neighborhoods, and increasing available services. This points to TOD as a preferable style of neighborhood to people, showing that market-driven creation of TOD neighborhoods may be possible in U.S. metropolitan areas.<ref>{{Cite journal |last=Duncan |first=Michael |date=January 2011 |title=The Impact of Transit-oriented Development on Housing Prices in San Diego, CA |url=http://journals.sagepub.com/doi/10.1177/0042098009359958 |journal=Urban Studies |language=en |volume=48 |issue=1 |pages=101–127 |doi=10.1177/0042098009359958 |pmid=21174895 |bibcode=2011UrbSt..48..101D |s2cid=22511401 |issn=0042-0980|url-access=subscription }}</ref> Resident expenses in TOD have been shown to be lower in well developed areas in spite of the generally higher rental costs due to lower energy use and travel costs, in Los Angeles the savings are around $3100 per year for one household.<ref name=":0a" />