Open AccessThe Effect of Landscape Trees on Residential Property Values of Six Communities in Cincinnati, Ohio
Author(s) -
Kelley C. Dimke,
T. Davis Sydnor,
David P. Gardner
Publication year - 2013
Publication title -
arboriculture and urban forestry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.222
H-Index - 47
eISSN - 2155-0778
pISSN - 1935-5297
DOI - 10.48044/jauf.2013.007
Subject(s) - property value , geography , canopy , tree canopy , urban forestry , forestry , urban forest , archaeology , economics , real estate , finance
The value of the urban forest as a component of the urban environment is significant. Trees provide both environmental and social benefits to urban dwellers. In many cities, financial support for urban forestry is on the decline. The objective of this research was to evaluate the impact trees have on property values of six communities (Bond Hill, Carthage, Clifton, Hyde Park, Kennedy Heights, and North Avondale) of varying socioeconomic levels in Cincinnati, Ohio, U.S. Tax assessor records were obtained for property sales between the years 2000 and 2005. One hundred sites were randomly selected from each of the six communities. Data were collected from each site during the winter as well as the summer months. Dominant genus, caliper of dominant genus, estimate of tree cover, and overall property maintenance were recorded. The hedonic method was used for this analysis. The average (mean) effect of tree canopy across all six communities was an increase of approximately USD $780 per one percent increase in tree cover. The mean sale price across the 600 sites was $188,730; the mean canopy cover was 25.8%. This indicates the average value of tree canopy is $20,226 or 10.7% of the sale price of the home.