Valuing impacts of proximity to Saguaro National Park on house prices

Julie M. Mueller; John B. Loomis; Leslie Richardson; Ryan A. Fitch

doi:10.1002/aepp.13196

Valuing impacts of proximity to Saguaro National Park on house prices

Julie M. Mueller, John B. Loomis, Leslie Richardson, Ryan A. Fitch

Business, The W.A. Franke College of (CoB)

Research output: Contribution to journal › Article › peer-review

3 Scopus citations

Abstract

Proximity to public lands is well established within the literature as having a positive effect on nearby house prices. However, little research exists examining the impact of proximity to national parks. We use a hedonic property model with matching methods to estimate the value of proximity to Saguaro National Park West and Tucson Mountain Park. We find positive impacts of proximity to each park, with a larger aggregate effect from proximity to Saguaro National Park West. Our results provide useful insight into the potential impacts of changes in land use designation on nearby house prices.

Original language	English (US)
Pages (from-to)	1359-1372
Number of pages	14
Journal	Applied Economic Perspectives and Policy
Volume	44
Issue number	3
DOIs	https://doi.org/10.1002/aepp.13196
State	Published - Sep 2022

Keywords

hedonic property model
matching
nonmarket valuation
public lands

ASJC Scopus subject areas

Development
Economics and Econometrics

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10.1002/aepp.13196

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title = "Valuing impacts of proximity to Saguaro National Park on house prices",

abstract = "Proximity to public lands is well established within the literature as having a positive effect on nearby house prices. However, little research exists examining the impact of proximity to national parks. We use a hedonic property model with matching methods to estimate the value of proximity to Saguaro National Park West and Tucson Mountain Park. We find positive impacts of proximity to each park, with a larger aggregate effect from proximity to Saguaro National Park West. Our results provide useful insight into the potential impacts of changes in land use designation on nearby house prices.",

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AU - Richardson, Leslie

AU - Fitch, Ryan A.

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AB - Proximity to public lands is well established within the literature as having a positive effect on nearby house prices. However, little research exists examining the impact of proximity to national parks. We use a hedonic property model with matching methods to estimate the value of proximity to Saguaro National Park West and Tucson Mountain Park. We find positive impacts of proximity to each park, with a larger aggregate effect from proximity to Saguaro National Park West. Our results provide useful insight into the potential impacts of changes in land use designation on nearby house prices.

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Valuing impacts of proximity to Saguaro National Park on house prices

Abstract

Keywords

ASJC Scopus subject areas

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