RENT OF URBAN LANDS
None the less, urban rent demands an explanation of its own. In the case of agricultural rent the prices obtained for the products are uniform but the costs vary on different grades of land. In the case of urban rent, on the other hand, the prices which are paid for rent vary while the building costs are the same everywhere. The advantages which certain sites offer are not economies in building costs. To some extent they do result in savings of time and money costs to the tenant which he would otherwise have to incur in traversing the distance to the center of the town. But this does not account for the origin of urban rent. Such savings are too trifling to establish the standard of urban rents. The fares on urban rapid transit facilities which would in the main be the determining cost in the presupposition involved in the above statement show but few and minor gradations while the variations in urban rents are both numerous and exceedingly disparate. In the heart of the city itself, where differences in the cost of transportation disappear altogether, extraordinary variations in rent may be observed between the locations having the heaviest traffic and those which are less frequented though in the immediate neighborhood of the former.