IMPACT OF HIGHWAY IMPROVMENTS ON PROPERTY VALUES IN WASHINGTON
The objective of the research was to examine the effects that construction of a major highway has on the value of surrounding properties, a topic which is of great public concern. Information was obtained on actual sales prices, as well as the characteristics of the properties. Four residential study areas were used, and as many as 4,785 sales were obtained in each area. The information on building and neighborhood characteristics was used to generate a quality-adjusted price index. This index for the years during which a highway was opened was then compared with an index for an area which had been unaffected by highway change. The results show that when the highway significantly increased the accessibility of the residences, property values increased by 12 to 15 percent. Unfortunately, the houses closest to the highway had this increase partically offset by a .2 percent to 1.2 percent reduction for each 2 1/2 dBA increase in the highway noise level.
Olympia, WA United States 98504
- Palmquist, R B
- Publication Date: 1980-3
- Pagination: 255 p.
- TRT Terms: Impact studies; Neighborhoods; Prices; Property values; Road construction; Socioeconomic factors; Sound level
- Subject Areas: Economics; Highways; Society;
- Accession Number: 00313978
- Record Type: Publication
- Source Agency: National Technical Information Service
- Report/Paper Numbers: WA-RD-37.1 Final Rpt.
- Files: NTIS, TRIS, STATEDOT
- Created Date: Oct 27 1980 12:00AM