The Impact of Landfills on Residential Property Values

Alan K. Reichert, Michael Small and Sunil Mohanty
Additional contact information
Alan K. Reichert: Department of Finance Cleveland State University Cleveland, Ohio 44115, http://www.csuohio.edu/finance_department/index.htm
Michael Small: Department of Finance Cleveland State University Cleveland, Ohio 44115, http://www.csuohio.edu/finance_department/index.htm
Sunil Mohanty: Department of Finance Cleveland State University Cleveland, Ohio 44115, http://www.csuohio.edu/finance_department/index.htm

Journal of Real Estate Research, 1992, vol. 7, issue 3, 297-314

Abstract: The purpose of this study is to determine the impact of five municipal landfills on residential property values in a major metropolitan area (Cleveland, Ohio). The study concludes that landfills will likely have an adverse impact upon housing values when the landfill is located within several blocks of an expensive housing area. The negative impact is between 5.5%-7.3% of market value depending upon the actual distance from the landfill. For less expensive, older areas the landfill effect is considerably less pronounced, ranging from 3%-4% of market value, and essentially nonexistent for predominantly rural areas.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1992
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Citations: View citations in EconPapers (26)

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