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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.

Suggested Citation

  • Alan K. Reichert & Michael Small & Sunil Mohanty, 1992. "The Impact of Landfills on Residential Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 7(3), pages 297-314.
    • Handle: RePEc:jre:issued:v:7:n:3:1992:p:297-314
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    Cited by:

    1. David M. Brasington & Diane Hite, 2005. "Demand for Environmental Quality: A Spatial Hedonic Approach," Departmental Working Papers 2005-08, Department of Economics, Louisiana State University.
    2. Vincenzo Del Giudice & Pierfrancesco De Paola & Paolo Bevilacqua & Alessio Pino & Francesco Paolo Del Giudice, 2020. "Abandoned Industrial Areas with Critical Environmental Pollution: Evaluation Model and Stigma Effect," Sustainability, MDPI, vol. 12(13), pages 1-34, June.
    3. 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.
    4. Brasington, David M. & Hite, Diane, 2005. "Demand for environmental quality: a spatial hedonic analysis," Regional Science and Urban Economics, Elsevier, vol. 35(1), pages 57-82, January.
    5. Bischoff, Oliver, 2012. "Explaining regional variation in equilibrium real estate prices and income," Journal of Housing Economics, Elsevier, vol. 21(1), pages 1-15.
    6. Chuanwang Sun & Xiaochun Meng & Shuijun Peng, 2017. "Effects of Waste-to-Energy Plants on China’s Urbanization: Evidence from a Hedonic Price Analysis in Shenzhen," Sustainability, MDPI, vol. 9(3), pages 1-18, March.
    7. Joseph A. Herriges & Silvia Secchik & JBruce A. Babcock, 2005. "Living with Hogs in Iowa: The Impact of Livestock Facilities on Rural Residential Property Values," Land Economics, University of Wisconsin Press, vol. 81(4).
    8. Benoît Chèze, 2007. "Une méta-analyse des études d’évaluation monétaire par la méthode des prix hédoniques du coût externe des installations de traitement des déchets," Working Papers hal-04139215, HAL.
    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. 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.
    11. Marvin Schütt, 2021. "Systematic Variation in Waste Site Effects on Residential Property Values: A Meta-Regression Analysis and Benefit Transfer," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 78(3), pages 381-416, March.
    12. 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.
    13. 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.
    14. Ham, Yun-Ju & Maddison, David J. & Elliott, Robert J.R., 2013. "The valuation of landfill disamenities in Birmingham," Ecological Economics, Elsevier, vol. 85(C), pages 116-129.
    15. John Braden & Xia Feng & DooHwan Won, 2011. "Waste Sites and Property Values: A Meta-Analysis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 50(2), pages 175-201, October.
    16. 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.
    17. Fu Chen & Xiaoxiao Li & Yongjun Yang & Huping Hou & Gang-Jun Liu & Shaoliang Zhang, 2019. "Storing E-waste in Green Infrastructure to Reduce Perceived Value Loss through Landfill Siting and Landscaping: A Case Study in Nanjing, China," Sustainability, MDPI, vol. 11(7), pages 1-15, March.
    18. 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.
    19. 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.
    20. Prince O. Njoku & Joshua N. Edokpayi & John O. Odiyo, 2019. "Health and Environmental Risks of Residents Living Close to a Landfill: A Case Study of Thohoyandou Landfill, Limpopo Province, South Africa," IJERPH, MDPI, vol. 16(12), pages 1-27, June.
    21. Arthur Sementelli & Robert A. Simons, 1997. "Regulation of Leaking Underground Storage Tanks: Policy Enforcement and Unintended Consequences," Economic Development Quarterly, , vol. 11(3), pages 236-248, August.
    22. Jing Ma & Zhanbin Luo & Fu Chen & Qianlin Zhu & Shaoliang Zhang & Gang-Jun Liu, 2018. "A Practical Approach to Reduce Greenhouse Gas Emissions from Open Dumps through Infrastructure Restructuring: A Case Study in Nanjing City, China," Sustainability, MDPI, vol. 10(8), pages 1-13, August.
    23. Katherine Kiel, 2006. "Environmental Contamination and House Values," Working Papers 0601, College of the Holy Cross, Department of Economics.
    24. Poe, Gregory, 1997. ""Maximizing the Environmental Benefits per Dollar Expended" An Economic Interpretation and Review of Agricultural Environmental Benefits and Costs," EB Series 186405, Cornell University, Department of Applied Economics and Management.

    More about this item

    JEL classification:

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

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