Airport-Related Noise, Proximity, and Housing Prices in Atlanta

FRB of St. Louis Working Paper No. 2005-060C

35 Pages Posted: 9 Nov 2005

See all articles by Jeffrey Cohen

Jeffrey Cohen

University of Connecticut - School of Business

Cletus C. Coughlin

Federal Reserve Bank of St. Louis - Research Division

Date Written: July 2006

Abstract

Using hedonic models, we analyze the effects of noise and proximity on housing prices in neighborhoods near Hartsfield-Jackson Atlanta International Airport during 1995-2002. We address complications caused by changes over time in the levels and geographic distribution of noise and by the fact that noise levels are measured only at the beginning and after the end of the sample period. Generally speaking, housing prices were affected positively by declining noise levels. After accounting for proximity, house characteristics, and demographic variables, houses in noisier areas sold for less than houses subjected to less noise. Comparing prices in 1995-1999 with 2000-2002, the noise discount is larger during the latter period. Proximity to the airport is related positively to housing prices.

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

JEL Classification: Q53, Q51, R31, L93

Suggested Citation

Cohen, Jeffrey and Coughlin, Cletus C., Airport-Related Noise, Proximity, and Housing Prices in Atlanta (July 2006). FRB of St. Louis Working Paper No. 2005-060C. Available at SSRN: https://ssrn.com/abstract=840184 or http://dx.doi.org/10.2139/ssrn.840184

Jeffrey Cohen (Contact Author)

University of Connecticut - School of Business ( email )

368 Fairfield Road
Storrs, CT 06269-2041
United States

Cletus C. Coughlin

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

411 Locust St
Saint Louis, MO 63011
United States

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