Perhaps Burlington is an anomoly and the 65DNL has no effect on housing values or raises them as the GBIC study shows. Perhaps local prominent realtors are correct in trusting the GBIC Report. Perhaps we shouldn't worry about a little more noise for a few minutes a day.
Our research shows that it is widely accepted fact that life in the 65DNL decreases house values and quality of life and is a health hazard. The Air Force Draft Environmental Impact Statement concurs with this. Some research on the topic is outlined below. Do the research, get the facts, come to the debate at St. Mikes on the subject on October 17th at 7pm.
Resources on Housing Values and the 65DNL
Make sure to scroll to the bottom of this page for attached documents.
a.. Annual Housing Survey: 1975, Part B, Indicators of Housing and Neighborhood Quality. U. S. Department of Housing and Urban Development, Series H-150-75B (1977).
b.. Bell, Randall. "Airport Diminution in Value." Report submitted to Orange County Board of Supervisors, Jan. 1997. See text of the report.
c.. Bell, Randall. "The Impact of Airport Noise on Residential Property Values." PriceWaterhouseCoopers (unpublished paper) (1999).
d.. Booz-Allen & Hamilton, Inc. Effect of Airport Noise on Housing Values: A Summary Report. (1994) (Prepared for the Federal Aviation Administration, Office of Environment and Energy.)
e.. _____. Effect of Airport Noise on Housing Values: A Pilot Study at Baltimore/Washington International Airport. (1991).
f.. _____. Effect of Airport Noise on Housing Values: A Study at Los Angeles International Airport. (1991).
g.. _____. Effect of Airport Noise on Housing Values: A Pilot Study at New York Metropolitan Airports. (1993).
h.. Borins, Sandford F. Meiszkowski and Saper's estimate of the effects of airport noise on property value: a comment. J. Urban Econ. 9(1):125-128 (1981).
i.. California Real Estate Transfer Disclosures . When you sell real property in California you must disclose a variety of conditions, including airport noise, to the prospective buyer.
j.. Charles River Associates. Costs and Benefits to Communities of Aircraft Noise Abatement. (Draft final report 432) (1983).
k.. Carstensen, Fred; et al. Tweed-New Haven Airport: Master Plan Update, An Economic Evaluation -- Phase I. Connecticut Center for Economic Analysis, University of Connecticut (Oct. 1999). [Includes analysis of 700 home sales between 1967 and 1999.]
l.. Conger, G. M. Noise damage. Appraisal J. (April 1968).
m.. Crowley, R. W. A case study of the effects of an airport on land values. J. Transp. Econ. Policy 7:144-152 (1973).
n.. DeVany, A. "An Economic Model of Airport Noise Pollution in an Urban Environment." In Theory and Measurement of Economic Externalities, S. Lin, ed. New York: Academic Press (1976).
o.. Dygert, P. K. Estimation of the Cost of Airport Noise to Residential Activities. Ph.D. dissertation, University of Michigan (1973).
p.. Emerson, F. Valuation of residential amenities: An econometric approach. Appraisal J. 40(4):268-278 (1972).
q.. Espy, Molly; and Hilary Lopez. Impact of airport noise and proximity on residential property values. Growth and Change 31(3):408-419 (2000). (Study of Reno-Sparks airport.)
r.. Economic Impact of Vancouver International Airport. Ottawa: Transport Canada, TP 9820 (1989).
s.. Effects of Noise Barriers on the Market Value of Adjacent Residential Properties. McMaster University (QSEP Research Report No. 175) (1986).
t.. Feitelson, Eran I.; Robert E. Hurd, and Richard R. Mudge. The impact of airport noise on willingness to pay for residences. TR, 1(1):1-14 (Sept. 1197).
u.. Frankel, M. Aircraft noise and residential property values: Result of a survey study. Appraisal J. 59:96-110 (1991).
v.. Gautrin, J. An evaluation of the impact of aircraft noise on property values with a simple model of urban land rent. Land Econ. 51(2):80-86 (1975).
w.. Haar, C. M. Airport noise and the urban dweller: a proposed solution. Appraisal J. (Oct. 1968).
x.. Hall, T. H.; and W. Beaton. A factor formula for valuation of avigation easements. Appraisal J. (Jan. 1965).
y.. Hamilton, Stanley W.; and Uyeno, Dean. Impact of Aircraft Noise on Property Values. Transport Canada, Airside Capacity Environment Project (1990).
z.. _____. Effect of Airport Noise on Housing Prices in an Unstable Market. University of British Columbia, Center for Real Estate and Urban Land Economics (RULE), RULE Working Paper 91-ULE-010 (1991).
aa.. Helmuth, Obata & Kassabaum, Inc., et al. Sea-Tac International Airport Impact Mitigation Study: Initial Assessment and Recommendations. (Feb. 1997)
ab.. Howard, J. H. Valuation of an avigation easement. Appraisal J. (July 1954).
ac.. Impact of Airport Noise on Residential Property Values. Article includes links to the California statute authorizing avigation easements and a sample easement.
ad.. Ingram, D. The effect of value on noise factors. Appraisal J. (July 1972).
ae.. Jackson, R. Airport noise and congestion: a peak loan pricing solution. Applied Econ. 3(3):197-204 (1971).
af.. King, Richard L. Airport Noise Pollution: A Bibliography of Its Effects on People and Property. Scarecrow Press, 1973.
ag.. Levesque, Terrence J. Modeling the effects of airport noise on residential housing markets: A case study of Winnipeg International Airport. J. Transport Economics and Policy 28(2):199-210 (1994).
ah.. McDougall, G. S. An inquiry into the demand for aircraft noise abatement. Rev. Regional Studies, 6:59-69 (1976).
ai.. McMillan, M. L.; B. G. Reid; and D. W. Gillen. An extension of the hedonic approach for estimating the value of quiet. Land Economics, 56:315-328 (1980).
aj.. Mieszkowski, Peter; and Arthur M. Saper. An estimate of the effects of airport noise on property values. J. Urban Economics 5(4):425-440 (1978).
ak.. Nelson, Jon P. Economic Analysis of Transportation Noise Abatement. Cambridge: Ballinger (1978).
al.. _____. Aircraft Noise and the Market for Residential Housing: Empirical Results for Seven Selected Airports. U.S. Department of Transportation (Report DOT-RSPA-DPB/50-78/24.) (1978).
am.. _____. Airport noise, location rent, and the market for residential amenities. J. Environ. Economics and Management, 6(4):320-331 (1979).
an.. _____. Airports and property values: a survey of recent evidence. J. Transp. Econ. Policy, 14(1):37-52 (1980).
ao.. _____. "Measuring Benefits of Environmental Improvements: Aircraft Noise and Hedonic Prices." In Advances in Applied Microeconomics, vol. 1, V. K. Smith, ed. Greenwich: JAI Press (1981).
ap.. _____. Meta-analysis of airport noise and hedonic property values: Problems and prospects. J. Transp. Econ. Policy, 38(1):1-27 (2004).
aq.. Orange County Business Council. "The Impact of Airports on Residential Property Values." Irvine, CA (Feb. 2000).
ar.. O'Byrne, Patricia H.; Jon P. Nelson; and Joseph J. Seneca. Housing values, census estimates, disequilibrium, and the environmental cost of airport noise: a case study of Atlanta. J. Environmental Economics and Management, 12(2):169-178 (19852).
as.. Pai, Inja K. "Effect of Aircraft Noise on the Value of Residential Property Near Three Selected Airports." Consortium of Universities, Urban Transportation Center, Washington, D.C. (June 1972).
at.. Pearce, D. W. "Noise Valuation." In The Valuation of Social Cost, D. W. Pearce, ed. London: George Allen & Unwin (1978).
au.. Pennington, G. N.; Topham; and R. Ward. Aircraft noise and residential property values adjacent to Manchester International Airport. J. Transport Economics and Policy, 24:49-59 (1990).
av.. Price, S. The Social Cost of Airport Noise as Measured by Rental Changes: The Case of Logan Airport. Ph.D. dissertation, Boston University (1974).
aw.. Randall, W. Appraisal of damages caused by proximity to jet airport. Appraisal J. (Jan. 1954).
ax.. Spaeth, R. L. Measuring the cost of airport noise: formulas and pitfalls. Appraisal J. (July 1972).
ay.. Strunck, J. E. Avigational easements -- case studies. Appraisal J. (April 1963).
az.. Tomkins, J.; N. Topham, J. Twomey, and R. Ward. Noise versus access: The impact of an airport in an urban property market. Urban Studies 35(2):243-258. (Study of Manchester, England Airport.)
ba.. Uyeno, Dean; Stanley Hamilton, and Andrew Biggs. Density of residential land use and the impact of airport noise. J. Transport Economics and Policy 27(1):3-18.
bb.. Valuing the External Costs of Aviation. UK Department of Transport (2000).
bc.. Van Praag, B.M.S.; and B. E. Baarsama. The Shadow Price of Aircraft Nuisance. Tinbergen Institute, The Netherlands. (2000). (Document is available on the Web at Tinbergen Institute.)
bd.. Walters, A. A. Noise and Prices. Oxford: Clarendon Press (1975).
be.. Walther, H. O. The impact of municipal airports on the market value of real estate in the adjacent areas. Appraisal J. (Jan. 1954).
bf.. _____. Effect of jet airports on market value of vicinage real estate. Appraisal J. (Oct. 1959).
bg.. West, R. J. Statistical inference: an avigation easement analysis. Real Estate Issues, 13(1):___ (Spring/summer 1988).
|airport noise meta analysis nelson_metanoise31.pdf||137.02 KB|
|Home Prices AirportNoise.pdf||412.38 KB|
|house prices survey of studies.pdf||88.86 KB|
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|Housing Prices Federal Reserve Bank.pdf||495.81 KB|