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The Impact of Brownfields on Residential Property Values in Cincinnati, Ohio: A Spatial Hedonic Approach
University of Cincinnati, College of Design, Architecture, Art, and Planning, School of Planning.
University of Cincinnati, College of Design, Architecture, Art, and Planning, School of Planning.
2012 (English)In: Journal of Regional Analysis and Policy, ISSN 1090-4999, Vol. 42, no 3, 223-236 p.Article in journal (Refereed) Published
Abstract [en]

This paper empirically assesses the impact brownfield sites have on market values ofsingle-family residential properties. Using three different hedonic model specifications, OrdinaryLeast Squares and Spatial Autoregressive and Spatial Error Models, this study showsthat properties located less than 1,000 feet from a brownfield site experience a significant depreciationin property values. As expected, spatial dependence among real estate propertyvalues is present, meaning that the two spatial hedonic model specifications are superior tothe Ordinary Least Squares specification. The study contributes to the relevant real estate andurban economics literature by determining the negative impact brownfield sites have on thevalue of single-family residential properties in our study region in Cincinnati, Ohio, by explicitlyaccounting for the phenomenon of spatial dependence in the dependent variable and byaddressing the declining influence of brownfield sites on property values in a nonlinearrelationship.

Place, publisher, year, edition, pages
Mid-Continent Regional Science Association , 2012. Vol. 42, no 3, 223-236 p.
Keyword [en]
brownfield site, hedonic models, spatial modeling
National Category
Human Geography
Identifiers
URN: urn:nbn:se:du-13180OAI: oai:DiVA.org:du-13180DiVA: diva2:657348
Available from: 2013-10-18 Created: 2013-10-18 Last updated: 2013-10-29Bibliographically approved

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Mihaescu, Oana
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