Ridesharing has become ubiquitous throughout the United States and a host of academic studies and policy debates pertaining to ridesharing have proliferated to better understand its welfare implications. However, the overall social value of a ridesharing platform is still unclear because prior literature focuses only on the supply-side (i.e., drivers) or the demand-side (i.e., passengers) of the platform when analyzing its welfare effects without taking into account non-users of the digital platform. In this study, we quantify the social value of a ridesharing platform using a hedonic pricing model by exploiting quasi-experimental variation in the staggered entry of UberX into different metropolitan areas between 2010 and 2016. We find that the entry of UberX into a metropolitan area leads to a 2.9% rise in median housing prices per square feet. A back-of-the-envelope calculation suggests that the entry of UberX is associated with a welfare gain of over $795 million. We also find substantial heterogeneity across geographic locations. Markets with more educated people and with greater dependence on public transportation benefit particularly more after Uber’s entry, while markets with higher vehicle ownership benefit notably less.