Premium
The Impact of Airport Noise and Proximity on Residential Property Values
Author(s) -
Espey Molly,
Lopez Hilary
Publication year - 2000
Publication title -
growth and change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.657
H-Index - 55
eISSN - 1468-2257
pISSN - 0017-4815
DOI - 10.1111/0017-4815.00135
Subject(s) - residential property , amenity , property value , decibel , noise (video) , noise exposure , noise pollution , hedonic pricing , geography , transport engineering , business , econometrics , mathematics , telecommunications , engineering , acoustics , computer science , real estate , audiology , economic geography , noise reduction , finance , medicine , hearing loss , artificial intelligence , image (mathematics) , physics
The hedonic price method is used to estimate the relationship between residential property values and airport noise and proximity to the airport in the Reno‐Sparks area. Empirical results suggest there is a statistically significant negative relationship between airport noise and residential property values, with the average home in areas where noise levels are 65 decibels or high selling for about $2400 less than equivalent homes in quieter areas. However, in direct contrast to the study by Tomkins et al.(1998) who found proximity to the Manchester airport to be an amenity, this study finds proximity to the Reno‐Sparks airport to have a significant negative value.