Table 2.

Hedonic model of housing expenditure among market owners and market renters

	Market owners		Market renters
	Mean	Coefficient	Mean	Coefficient
Constant		2.666**		5.065**
Area space (m2)	76.13	0.030**	28.58	0.011**
Square of area space		−7.04E-5**		−1.63E-05
Housing quality index	90.23	0.007**	58.33	0.006**
Building type (Reference: Apartment)
High-rise		0.215**		0.377**
Courtyard		−		−0.294**
Number of rooms	2.18	−0.153**	1.33	−0.023
Building age (years old)	6.39	−0.037**	13.49	−0.001
Economic purchase	$7338	−0.647**		−
City (Reference: Beijing)	$17,766		$36.8
Chongqing	$7391	−0.871**	$ 23.5	−1.000**
Guangzhou	$23,853	0.226**	$ 48.6	−0.194*
Harbin	$10,833	−0.289**	$ 24.4	−0.743**
Nanjing	$14,396	−0.029	$ 26.4	−0.434**
Shanghai	$22,210	0.387**	$ 24.1	−0.445**
Tianjin	$15,495	0.054	$ 20.8	−0.564**
Xian	$6727	−0.487**	$ 19.8	−0.766**
N		1751		1029
Degree of freedom		14		14
Adjusted r square		0.604		0.338

Notes:

^*p < 0.05

^**p < 0.01

Cost for renters is cost per month; Exchange rate 1999: 1 dollar = 8.28 RMB.