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Abstract:
This report describes the results of a bottom up examination of the impact of airport noise on housing values. The primary objective of this assessment was to determine whether a valid national level determination regarding the impact of airport noise on housing values could be made based on studies at individual airports. The studies were not intended to obtain precise values of the noise impact on property values around the airports that were considered. An analytical approach was designed that combined quantitative and qualitative techniques in a way that complements each and overcomes some of the shortcomings of previous studies that exclusively used one technique or the other. In recognition of the fact that local conditions can significantly affect real estate markets, this approach makes extensive use of local realtors and appraisers who are familiar with the area and any unique factors that must be considered when assessing the value of residential properties. This approach was used around airports in three major metropolitan areas to determine if the approach was repeatable and verifiable, and whether it provided consistent and reliable results in terms of trends regarding the economic impact of airport noise on housing values. They were also intended to assess the reliability and accessibility of the data required for such analyses. It was concluded that this approach represents a viable method of examining the effects of airport noise on housing values at the national level. A correct application of sampling methods and the analytical technique can be used to establish the nationwide magnitude of the effect that airport noise has on property values, and may help decision makers determine national policy or guidelines regarding the impact of airport noise on housing values. (AN)
| Limitations: |
 APPROVED FOR PUBLIC RELEASE |
| Pages: |
48 |
| Report Date: |
15 SEP 94 |
| Contract Number: |
DTFA01-93-C-00065 |
| Report Number: |
A590003 |
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Keywords relating to this report:
