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Wildfire Risk and Housing Prices: A Case Study from Colorado Springs

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  • Geoffrey H. Donovan
  • Patricia A. Champ
  • David T. Butry
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    Abstract

    In 2000, concerned about the risks of wildfires to local homes, the Colorado Springs Fire Department rated the wildfire risk of 35,000 housing parcels within the wildland-urban interface and made its findings available online. We examine the effectiveness of this rating project by comparing the relationship between home price and wildfire risk before and after the information was posted on the Web site. Before the information was available, home price and wildfire risk were positively correlated, whereas, afterwards, they were not.

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    Bibliographic Info

    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 83 (2007)
    Issue (Month): 2 ()
    Pages: 217-233

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    Handle: RePEc:uwp:landec:v:83:y:2007:i:2:p:217-233

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    Web page: http://le.uwpress.org/

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    Cited by:
    1. Zhen Xu & G. Cornelis van Kooten, 2013. "Living with Wildfire: The Impact of Historic Fires on Property Values in Kelowna, BC," Working Papers 2013-05, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
    2. Stetler, Kyle M. & Venn, Tyron J. & Calkin, David E., 2010. "The effects of wildfire and environmental amenities on property values in northwest Montana, USA," Ecological Economics, Elsevier, vol. 69(11), pages 2233-2243, September.
    3. Polyakov, Maksym & Pannell, David J. & Pandit, Ram & Tapsuwan, Sorada & Park, Geoff, 2012. "Valuing environmental assets on rural lifestyle properties," Working Papers 126941, University of Western Australia, School of Agricultural and Resource Economics.
    4. Horsch, Eric J. & Lewis, David J., 2008. "The Effects of Aquatic Invasive Species on Property Values: Evidence from a Quasi-Random Experiment," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6199, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Hansen, Winslow D. & Naughton, Helen T., 2013. "The effects of a spruce bark beetle outbreak and wildfires on property values in the wildland–urban interface of south-central Alaska, USA," Ecological Economics, Elsevier, vol. 96(C), pages 141-154.
    6. Stockmann, Keith & Burchfield, James & Calkin, Dave & Venn, Tyron, 2010. "Guiding preventative wildland fire mitigation policy and decisions with an economic modeling system," Forest Policy and Economics, Elsevier, vol. 12(2), pages 147-154, February.
    7. Mozumder, Pallab & Raheem, Nejem & Talberth, John & Berrens, Robert P., 2008. "Investigating intended evacuation from wildfires in the wildland-urban interface: Application of a bivariate probit model," Forest Policy and Economics, Elsevier, vol. 10(6), pages 415-423, August.

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