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The Impact of Landfills on Residential Property Values

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    Abstract

    The purpose of this study is to determine the impact of five municipal landfills on residential property values in a major metropolitan area (Cleveland, Ohio). The study concludes that landfills will likely have an adverse impact upon housing values when the landfill is located within several blocks of an expensive housing area. The negative impact is between 5.5%-7.3% of market value depending upon the actual distance from the landfill. For less expensive, older areas the landfill effect is considerably less pronounced, ranging from 3%-4% of market value, and essentially nonexistent for predominantly rural areas.

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    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol07n03/v07p297.pdf
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    Bibliographic Info

    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 7 (1992)
    Issue (Month): 3 ()
    Pages: 297-314

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    Handle: RePEc:jre:issued:v:7:n:3:1992:p:297-314

    Contact details of provider:
    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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    Web page: http://www.aresnet.org/

    Order Information:
    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

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    Cited by:
    1. David Brasington & D. Hite, . "Demand for Environmental Quality: A Spatial Hedonic Analysis," Departmental Working Papers 2003-02, Department of Economics, Louisiana State University.
    2. Jean-Daniel Saphores & Ismael Aguilar-Benitez, 2005. "Smelly local polluters and residential property values: A hedonic analysis of four Orange County (California) cities," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 20(2), pages 197-218.
    3. George H. Lentz & Ko Wang, 1998. "Residential Appraisal and the Lending Process: A Survey of Issues," Journal of Real Estate Research, American Real Estate Society, vol. 15(1), pages 11-40.
    4. Bischoff, Oliver, 2012. "Explaining regional variation in equilibrium real estate prices and income," Journal of Housing Economics, Elsevier, vol. 21(1), pages 1-15.
    5. Herriges, Joseph A. & Secchi, Silvia & Babcock, Bruce A., 2003. "Living with Hogs in Iowa: The Impact of Livestock Facilities on Rural Residential Property Values," Staff General Research Papers 10683, Iowa State University, Department of Economics.
    6. David M. Brasington & Diane Hite, . "Demand for Environmental Quality: A Spatial Hedonic Approach," Departmental Working Papers 2005-08, Department of Economics, Louisiana State University.
    7. McCluskey, Jill J. & Rausser, Gordon C., 2003. "Hazardous waste sites and housing appreciation rates," Journal of Environmental Economics and Management, Elsevier, vol. 45(2), pages 166-176, March.
    8. Karl L. Guntermann, 1995. "Sanitary Landfills, Stigma and Industrial Land Values," Journal of Real Estate Research, American Real Estate Society, vol. 10(5), pages 531-542.
    9. Robert A. Simons & William Bowen & Arthur Sementell, 1997. "The Effect of Underground Storage Tanks on Residential Property Values in Cuyahoga County, Ohio," Journal of Real Estate Research, American Real Estate Society, vol. 14(1), pages 29-42.
    10. Dennis Kaufman & Norman Cloutier, 2006. "The Impact of Small Brownfields and Greenspaces on Residential Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 33(1), pages 19-30, August.
    11. Su Han Chan & Shin-Hering Michelle Chu & George H. Lentz & Ko Wang, 1998. "Intra-Project Externality and Layout Variables in Residential Condominium Appraisals," Journal of Real Estate Research, American Real Estate Society, vol. 15(2), pages 131-146.
    12. John Braden & Xia Feng & DooHwan Won, 2011. "Waste Sites and Property Values: A Meta-Analysis," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 50(2), pages 175-201, October.
    13. Richard C. Ready, 2010. "Do Landfills Always Depress Nearby Property Values?," Journal of Real Estate Research, American Real Estate Society, vol. 32(3), pages 321-340.
    14. Katherine Kiel, 2006. "Environmental Contamination and House Values," Working Papers 0601, College of the Holy Cross, Department of Economics.

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