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
University of Connecticut - School of Business
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:
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
