Changing Noise Levels and Housing Prices Near the Atlanta Airport

Growth and Change. 2009. 40(2), pp.287-313.

38 Pages Posted: 8 Aug 2008 Last revised: 7 Aug 2016

Jeffrey P. Cohen

University of Connecticut - School of Business

Cletus C. Coughlin

Federal Reserve Bank of St. Louis - Research Division

Date Written: July 31, 2008

Abstract

Using hedonic models, we analyze the effects of proximity and noise on housing prices in neighborhoods near Hartsfield-Jackson Atlanta International Airport during 1995-2002. Proximity to the airport is related positively to housing prices. We address complications caused by changes over time in the levels and geographic distribution of noise and by the fact that noise contours are measured infrequently. A general decline in noise boosted housing prices during 1995-2002. After accounting for proximity, house characteristics, and demographic variables, houses in noisier areas sold for less than houses subjected to less noise. Also, the noise discount is larger during 2000-2002 than 1995-1999.

Keywords: noise, airports, housing prices, hedonic pricing, proximity

JEL Classification: Q53, Q51, R31, L93

Suggested Citation

Cohen, Jeffrey P. and Coughlin, Cletus C., Changing Noise Levels and Housing Prices Near the Atlanta Airport (July 31, 2008). Growth and Change. 2009. 40(2), pp.287-313.. Available at SSRN: https://ssrn.com/abstract=1208602 or http://dx.doi.org/10.2139/ssrn.1208602

Jeffrey P. Cohen

University of Connecticut - School of Business ( email )

368 Fairfield Road
Storrs, CT 06269-2041
United States

Cletus C. Coughlin (Contact Author)

Federal Reserve Bank of St. Louis - Research Division ( email )

411 Locust St
Saint Louis, MO 63011
United States

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