Influence of natural amenities on residential property values in a rural setting.

Eric M. White; L.A. Leefers

Treesearch

Influence of natural amenities on residential property values in a rural setting.

Informally Refereed

Authors:

Eric M. White, L.A. Leefers

Year:

2007

Type:

Scientific Journal

Station:

Pacific Northwest Research Station

Source:

Society and Natural Resources. 20: 659-667

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Abstract

Most hedonic pricing studies have been completed in suburban and urban communities rather than rural areas. The hedonic pricing study presented here includes developed residential parcel transactions occurring in a rural county in Michigan. We develop two hedonic pricing models using transactions data for two rural residential parcel types: developed parcels located in subdivisions and developed parcels not located in subdivisions. Proximity to lakes and subdivision open areas positively affected the values of some parcel types, whereas proximity to forested land, publicly owned streams, and a National Scenic River did not have a positive influence. Results found in this study completed in a rural setting contrast with the results of other studies completed in suburban and urban settings.

Keywords

Recreation spending, national visitor use monitoring, economic impact

Citation

White, E.M.; Leefers, L.A. 2007. Influence of natural amenities on residential property values in a rural setting. Society and Natural Resources. 20: 659-667