By constructing a theoretical model, this paper comparatively analyzed the impact of urban rail transit on the nearby housing market price. Further, using the data of the first-hand housing transaction price of the central districts of Chongqing of 2019, the impact was empirically estimated. It was find that urban rail tran_x005fsit significantly increased the nearby housing price, and such effects have regional differences and distance attenuation characteristics. For those areas with high economic development level, the housing price was largely affected by the urban rail transit. If the house is closer to the urban rail transit station, the price spillover effect was much more obvious. The conclusions of this paper have many implications for the robust regulation of the real estate market and the future rational planning of urban rail transit stations. Especially in urban rail transit planning, the government should strengthen the geographical correspondence between site selection and real estate land approval, increase the market supply of housing along rail transit from the perspective of housing supply, in order to effectively smooth the surge in demand for housing along the railroad and price fluctuations on the housing market.