This　paper　proposes　an　integrated　residential　location　and　transportation　model　to　calculate　the　housing　price.　First,　according　to　the　population　distribution,　we　determine　the　operation　parameters　of　a　newly　planned　rail　transit　line　in　a　profit-maximization　model　(i.e.,　site　location,　headway　and　fare,　etc.).　Then,　the　generalized　transportation　cost　is　calculated　for　each　site.　An　integrated　residential　location　and　transportation　model　is　subsequently　defined　in　logit　form　with　the　variability　of　the　average　housing　price　and　the　generalized　transport　cost.　Finally,　the　equilibrium　average　housing　prices　at　each　site　are　calculated　based　on　the　condition　of　housing　supply　and　demand　being　in　balance.　©　2016　ASCE.