This paper aims at exploring the impacts of rail rapid transit characteristics and land use types on housing price in station areas. The rail transit characteristics examined are the techonology type (underground, surface, overhead), development stage (planning, design, construction), stational location (city area, fringe area, suburban area), distance to station, etc. it is shown from the regression analysis that the change of housing price in station areas of underground station are higher than that of surface and overhead stations. As might be expected, the housing price of city area near stations usually increased more than the housing price of fringe and suburban area near stations. The transit development stages have significantly affected housing prices. This appeared to be true that farther the distance from stations, the lower in change of housing prices. The increase in housing prices for land of commerical and office use are generally greater than that of mixed and residential use. The housing prices in the station area increase significantly than that along the transit corridor area.