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Do Landfills Always Depress Nearby Property Values?

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  • Richard C. Ready

    () (Pennsylvania State University)

Abstract

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.

Suggested Citation

  • 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.
  • Handle: RePEc:jre:issued:v:32:n:3:2010:p:321-340
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    References listed on IDEAS

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    7. Gerald E. Smolen & Gary Moore & Lawrence V. Conway, 1992. "Economic Effects of Hazardous Chemical and Proposed Radioactive Waste Landfills on Surrounding Real Estate Values," Journal of Real Estate Research, American Real Estate Society, vol. 7(3), pages 283-296.
    8. Mark Thayer & Heidi Albers & Morteza Rahmatian, 1992. "The Benefits of Reducing Exposure to Waste Disposal Sites: A Hedonic Housing Value Approach," Journal of Real Estate Research, American Real Estate Society, vol. 7(3), pages 265-282.
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    Cited by:

    1. Yoo, James & Simonit, Silvio & Connors, John P. & Maliszewski, Paul J. & Kinzig, Ann P. & Perrings, Charles, 2013. "The value of agricultural water rights in agricultural properties in the path of development," Ecological Economics, Elsevier, vol. 91(C), pages 57-68.
    2. Zhang, Zhaohua & Hite, Diane, 2016. "Residential Location Impacts of Environmental Disamenity: The Case of Gravel Pit Operation and Landfills," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 229739, Southern Agricultural Economics Association.
    3. Mario du Preez & Mehmet Balcilar & Aarifah Razak & Steven F. Koch & Rangan Gupta, 2014. "House Values and Proximity to a Landfill: A Quantile Regression Framework," Working Papers 201442, University of Pretoria, Department of Economics.
    4. Gema Fernandez-Aviles & Roman Minguez & Jose-Maria Montero, 2012. "Geostatistical Air Pollution Indexes in Spatial Hedonic Models: The case of Madrid, Spain," Journal of Real Estate Research, American Real Estate Society, vol. 34(2), pages 243-274.
    5. Ben Hoen & Jason Brown & Thomas Jackson & Mark Thayer & Ryan Wiser & Peter Cappers, 2015. "Spatial Hedonic Analysis of the Effects of US Wind Energy Facilities on Surrounding Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 51(1), pages 22-51, July.
    6. Yoo, James & Perrings, Charles & Kinzig, Ann & Abbott, Joshua K. & Simonit, Silvio & Connors, John P. & Maliszewski, Paul J., 2012. "The Value of Water Rights in Agricultural Properties in the Phoenix Active Management Area," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124095, Agricultural and Applied Economics Association.
    7. repec:jre:issued:v:38:n:4:2016:p:473_504 is not listed on IDEAS

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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