Citation:

Hoover, F., J. Price, AND M. Hopton. Examining the Effects of Green Infrastructure on Residential Sales Prices in Omaha, NE. Urban Forestry & Urban Greening. Elsevier B.V., Amsterdam, Netherlands, 54:126778, (2020). https://doi.org/10.1016/j.ufug.2020.126778

Impact/Purpose:

It is often reported there are economic benefits to using green infrastructure for stormwater management, but there is limited empirically-based research available to decision makers on the economic value of GI’s benefits. The study examines the effect green infrastructure has on housing values--the case study examines 19 years of home sales. The information will help inform communities, cities, states, and other decision makers as they manage stormwater to address issues of water quality and quantity.

Description:

Green infrastructure (GI), practices consisting of vegetation used to manage stormwater runoff (e.g., rain gardens, vegetated roofs, bioswales, etc.), has been adopted by cities across the US to help address aging water infrastructure, water quality, and excess water quantity. Although GI’s contribution to stormwater control and management has been extensively studied, the economic value of its benefits is less known. In Omaha, NE, GI projects have been completed in several public parks. Using a repeat-sales model based on 2000-2018 housing data, we examined the effect of GI on the value of single-family homes within various buffer distances of parks where GI was installed. After controlling for changes associated with home deterioration and renovation, non-stationary location effects, and time-invariant characteristics, we did not find any statistically significant relationships between housing values and GI. This finding is consisting with the notion that homeowners place little value on modifications to existing greenspace, but may also stem from homeowners lack of familiarity with GI practices or data limitations.

URLs/Downloads:

Record Details: