本研究欲探討影響房價波動之因素，並進一步將學區評比、家長評比和人口特徵做為調節變數，分析是否有調節效果。實證結果顯示，空氣品質評比、內部面積、浴室數、國小與國中學區評比較高的地區，該區每平方英呎房價較貴；平均通勤時間、人口變動率、房間數、平均家庭人數、白人人口比例高的地區，該區每平方英呎房價較便宜。本研究亦發現，在考量調節變數後，房價模型解釋力提升3.6 %。學區、家長評比在內部面積與房間數對房價變動之影響力具有調節效果。白人人口比例與平均家庭人數在房間數與浴室數對房價變動之影響力具有調節效果。由此可見，評估房屋品質特徵變數時，應考量學區與人口特徵變數的差異。

This research is to discuss the factors cause house price difference. Furthermore, school district rating, parent rating, demographic characteristics are included as moderators to analyze whether moderating effect exist. The test results show that areas with higher air quality reviews, larger internal area, more number of bathrooms, and higher elementary and junior high school district rating result in higher house price per square foot. Areas with longer average commuting time, higher population change rate, more number of rooms, higher average number per household, and white population result in lower house price per square foot. This study also found that the housing price model’s adjusted R2 are increased 3.6% while the moderators are put into consideration. School district and parent rating show a moderating effect on the influence of house size and number of rooms towards house price changes. Meanwhile, white population and average family member per household demonstrate a moderating effect on the influence of number of rooms and number of bathrooms towards house price changes. Therefore, the potential housing buyers and housing policy markers should considerate the difference of school district and demographic characteristics variables for efficiency decision making.

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