The Impact of Hazardous Wastes on Property Values: The Effect of Lead Pollution

Urbani Izziv, Vol. 21, No. 2, pp.117-126

10 Pages Posted: 2 Jul 2009 Last revised: 14 Oct 2013

See all articles by Ermanno Affuso

Ermanno Affuso

University of South Alabama - Mitchell College of Business - Department of Economics and Finance

Christophe de Parisot

Auburn University - Department of Agricultural Economics and Rural Sociology

Chau-Sa Ho

Ohio State University - Center for Human Resource Research

Diane Hite

Auburn University - Department of Agricultural Economics and Rural Sociology

Date Written: December 1, 2010

Abstract

This paper examines the impact of lead pollution on property values in Anniston, Alabama, one of the most polluted cities in the US. A hedonic house price analysis allows us to examine the extent of capitalization of lead contamination's effect on property values there, as well as property value losses due to the presence of an Army Depot. We estimated that lead cleanup would provide an increased property value of $1,140 per household and found that living 1 km closer to the polluting sites reduces property values by approximately 2%, a figure consistent with previous research regarding the connection between environmental disamenities and property values.

Keywords: Hedonic Analysis, Environmental Disamenities, Externalities, Urban Economics

JEL Classification: R00, R15

Suggested Citation

Affuso, Ermanno and de Parisot, Christophe Vincent and Ho, Chau-Sa and Hite, Diane, The Impact of Hazardous Wastes on Property Values: The Effect of Lead Pollution (December 1, 2010). Urbani Izziv, Vol. 21, No. 2, pp.117-126, Available at SSRN: https://ssrn.com/abstract=1427544

Ermanno Affuso (Contact Author)

University of South Alabama - Mitchell College of Business - Department of Economics and Finance ( email )

College of Business and Management Studies
Mobile, AL 36688
United States
(251) 460-7908 (Phone)
(251) 460-6734 (Fax)

Christophe Vincent De Parisot

Auburn University - Department of Agricultural Economics and Rural Sociology ( email )

Comer Hall
Auburn, AL 36849
United States

Chau-Sa Ho

Ohio State University - Center for Human Resource Research ( email )

921 Chatham Lane
Columbus, OH 43220
United States
614-442-7379 (Phone)

Diane Hite

Auburn University - Department of Agricultural Economics and Rural Sociology ( email )

Comer Hall
Auburn, AL 36849
United States
334-844-5655 (Phone)
334-844-5639 (Fax)

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