The Spatial Extent of Water Quality Benefits in Urban Housing Markets

    Authors

    P. J. Walsh; J. W. Milon;D. O. Scrogin

    Comments

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    Abbreviated Journal Title

    Land Econ.

    Keywords

    RESIDENTIAL PROPERTY-VALUES; HAZARDOUS-WASTE SITES; FUNCTIONAL FORM; IMPLICIT PRICES; HEDONIC MODELS; DISTANCE-DECAY; OPEN SPACE; IMPROVEMENTS; RECREATION; DEPENDENCE; Economics; Environmental Studies

    Abstract

    Water quality regulation continues to be controversial, as demonstrated by recent litigation between the U.S. Environmental Protection Agency and the state of Florida over nutrient standards. While the costs of standards are usually known, benefits may be diverse and difficult to identify. This study investigates the effects of enhanced water quality on both waterfront and non waterfront property prices, using hedonic models within an urban market. Findings indicate ( I) the value of increased water quality depends upon the property's location and proximity to waterfront, and the surface area of the water body; and (2) aggregate benefits to nonwaterfront homes may dominate those realized by waterfront homeowners. (JEL Q51, Q53)

    Journal Title

    Land Economics

    Volume

    87

    Issue/Number

    4

    Publication Date

    1-1-2011

    Document Type

    Article

    Language

    English

    First Page

    628

    Last Page

    644

    WOS Identifier

    WOS:000296105200006

    ISSN

    0023-7639

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