Associate Professor
Department of Finance

Lei Zhang

NORFOLK, 23529

Dr. Lei Zhang is an Associate Professor in Real Estate in the Department of Finance at the Strome College of Business at Old Dominion University. She is the editor-in-chief for the Review of Regional Studies, corresponding editor for Urban Studies, and a member of the Editorial Board of Housing Studies. Prior to joining ODU, she was an Associate Professor and a Faculty Fellow in the Challey Institute for Global Innovation & Growth at North Dakota State University. Dr. Zhang’s primary research field is real estate and housing economics, and her research focuses on assessing factors affecting real estate price, economic growth, and studying policy impacts on the housing market. She has published numerous articles in peer-reviewed journals, such as Real Estate Economics, Journal of Money, Credit, and Banking, and Regional Science and Urban Economics.


Real Estate
Real Estate and Housing Economics

Research Interests

Real Estate and Housing Economics


Zhang, L., Leonard, T. and Bitzan, J. (2022). Impacts of the COVID-19 Pandemic on House Prices: Heterogeneous Impacts Over Time and Across the House Price Distribution. Journal of Real Estate Research.
Zhang, L. and Leonard, T. (2021). External validity of hedonic price estimates: Heterogeneity in the price discount associated with having Black and Hispanic neighbors. Journal of Regional Science 61 (1) , pp. 62--85.
Peng, L. and Zhang, L. (2021). House prices and systematic risk: Evidence from microdata. Real Estate Economics.
Leonard, T., Yang, X. and Zhang, L. (2021). The impact of land use regulation across the conditional distribution of home prices: an application of quantile regression for group-level treatments. The Annals of Regional Science 66 (3) , pp. 655--676.
Leonard, T., Yang, X., Zhang, L. and Reed, C. (2020). Impact of Property Tax Abatement on Employment Growth. Economic Development Quarterly 34 (2) , pp. 209--221.
Zhang, L. and Leonard, T. (2019). Flood hazards impact on neighborhood house prices. The Journal of Real Estate Finance and Economics 58 (4) , pp. 656--674.
Zhang, L. and Yi, Y. (2018). What contributes to the rising house prices in Beijing? A decomposition approach. Journal of Housing Economics 41 , pp. 72--84.
Lim, S. Hoon. and Zhang, L. (2017). Does casino development have a positive effect on economic growth?. Growth and Change 48 (3) , pp. 409--434.
Zhang, L., Leonard, T. and Dias, R. (2017). Foreclosed and sold: An examination of community and property characteristics related to the sale of REO properties. Urban Affairs Review 53 (5) , pp. 924--949.
Leonard, T., Jha, N. and Zhang, L. (2017). Neighborhood price externalities of foreclosure rehabilitation: an examination of the Neighborhood Stabilization Program. Empirical Economics 52 (3) , pp. 955--975.
Zhang, L. and Yi, Y. (2017). Quantile house price indices in Beijing. Regional Science and Urban Economics 63 , pp. 85--96.
Miljkovic, D., Dalbec, N. and Zhang, L. (2016). Estimating dynamics of US demand for major fossil fuels. Energy Economics 55 , pp. 284--291.
Zhang, L. (2016). Flood hazards impact on neighborhood house prices: A spatial quantile regression analysis. Regional Science and Urban Economics 60 , pp. 12--19.
Zhang, L., Leonard, T. and Murdoch, J. C. (2016). Time and distance heterogeneity in the neighborhood spillover effects of foreclosed properties. Housing Studies 31 (2) , pp. 133--148.
Leonard, T., Zhang, L. and Hoehner, C. (2015). Variations in park facility valuations across neighborhoods. Applied Spatial Analysis and Policy 8 (1) , pp. 45--67.
Zhang, L. and Leonard, T. (2014). Neighborhood impact of foreclosure: A quantile regression approach. Regional Science and Urban Economics 48 , pp. 133--143.
Dave, C., Dressler, S. J. and Zhang, L. (2013). The bank lending channel: a FAVAR analysis. Journal of Money, Credit and Banking 45 (8) , pp. 1705--1720.