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Do Landfills Always Depress Nearby Property Values?

The Journal of real estate research, 2010-07, Vol.32 (3), p.321-340 [Peer Reviewed Journal]

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Title:
Do Landfills Always Depress Nearby Property Values?
Author: Ready, Richard C.
Subjects: Analysis ; Central business districts ; Economic value ; Estimates ; Houses ; Housing market ; Housing prices ; Land use ; Landfill ; Landfills ; Price theory ; Property ; Property value ; Property values ; Real estate ; Regression analysis ; Regression coefficients ; Residential buildings ; Residential real estate ; Sales ; Solid wastes ; Spatial models ; Statistical significance ; Studies ; U.S.A
Is Part Of: The Journal of real estate research, 2010-07, Vol.32 (3), p.321-340
Description: 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.
Publisher: Clemson: American Real Estate Society
Language: English
Identifier: ISSN: 0896-5803
EISSN: 2691-1175
DOI: 10.1080/10835547.2010.12091279
Source: ProQuest Central

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