Wildfire risk and housing prices: a case study from Colorado Springs.

G.H. Donovan; P.A. Champ; D.T. Butry

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Wildfire risk and housing prices: a case study from Colorado Springs.

Informally Refereed

Authors:

G.H. Donovan, P.A. Champ, D.T. Butry

Year:

2007

Type:

Scientific Journal

Station:

Pacific Northwest Research Station

Source:

Land Economics. 83(2): 217-233

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Abstract

Unlike other natural hazards such as floods, hurricanes, and earthquakes, wildfire risk has not previously been examined using a hedonic property value model. In this article, we estimate a hedonic model based on parcel-level wildfire risk ratings from Colorado Springs. We found that providing homeowners with specific information about the wildfire risk rating of their property has affected housing prices.

Keywords

Hedonic, fire, Colorado Springs, spatial statistics

Citation

Donovan, G.H.; Champ, P.A.; Butry, D.T. 2007. Wildfire risk and housing prices: a case study from Colorado Springs. Land Economics. 83(2): 217-233