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Impacts of Ground Water Contamination on Property Values: Agricultural Run-off and Private Wells

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  • Guignet, Dennis
  • Walsh, Patrick J.
  • Northcutt, Rachel

Abstract

Few studies have examined the impacts of ground water quality on residential property values. Using a unique data set of well tests, we link residential real estate transactions to home-specific contamination and conduct a hedonic analysis of sales in Lake County, Florida, where pollution concerns relate primarily to agricultural run-off. We find that recent testing and contamination of ground water there correspond to a 2–6 percent depreciation in home values, an effect that diminishes over time. Focusing on nitrogen-based contamination, we find that prices decline mainly when concentrations exceed the regulatory health standard, suggesting as much as a 15 percent depreciation at levels twice the standard.

Suggested Citation

  • Guignet, Dennis & Walsh, Patrick J. & Northcutt, Rachel, 2016. "Impacts of Ground Water Contamination on Property Values: Agricultural Run-off and Private Wells," Agricultural and Resource Economics Review, Cambridge University Press, vol. 45(2), pages 293-318, August.
    • Handle: RePEc:cup:agrerw:v:45:y:2016:i:02:p:293-318_00
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    Cited by:

    1. Garay, Urbi & Puggioni, Gavino & Molina, German & ter Horst, Enrique, 2022. "A Bayesian dynamic hedonic regression model for art prices," Journal of Business Research, Elsevier, vol. 151(C), pages 310-323.
    2. Ioannis Chatziioannou & Luis Alvarez-Icaza & Efthimios Bakogiannis & Charalampos Kyriakidis & Luis Chias-Becerril, 2020. "A Structural Analysis for the Categorization of the Negative Externalities of Transport and the Hierarchical Organization of Sustainable Mobility’s Strategies," Sustainability, MDPI, vol. 12(15), pages 1-27, July.
    3. Taisuke Sadayuki, 2020. "The externality of a mortality incident within an apartment building: cases of homicide, suicide and fire deaths," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 22(1), pages 21-38, January.

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