Do Landfills Always Depress Nearby Property Values?
All available hedonic pricing estimates of the impact of landfills on nearby property values are assembled, including original estimates for three landfills in Pennsylvania. A meta-analysis shows landfills that accept high volumes of waste (500 tons per day or more) decrease adjacent residential property values by 13.7%, on average. This impact diminishes with distance at a gradient of 5.9% per mile. Lower-volume landfills decrease adjacent property values by 2.7%, on average, with a gradient of 1.3% per mile. While essentially all high-volume landfills negatively impact nearby property values, 20-26% of low-volume landfills do not impact nearby property values.
Volume (Year): 32 (2010)
Issue (Month): 3 ()
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References listed on IDEAS
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