The Spatial Extent of Water Quality Benefits in Urban Housing Markets
Abbreviated Journal Title
RESIDENTIAL PROPERTY-VALUES; HAZARDOUS-WASTE SITES; FUNCTIONAL FORM; IMPLICIT PRICES; HEDONIC MODELS; DISTANCE-DECAY; OPEN SPACE; IMPROVEMENTS; RECREATION; DEPENDENCE; Economics; Environmental Studies
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)
"The Spatial Extent of Water Quality Benefits in Urban Housing Markets" (2011). Faculty Bibliography 2010s. 2060.