The Value Of Beach Nourishment To Property Owners: Storm Damage Reduction Benefits

Jeffrey J. Pompe and James R. Rinehart
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Jeffrey J. Pompe: School of Business, Francis Marion University
James R. Rinehart: School of Business, Francis Marion University Journal: The Review of Regional Studies

The Review of Regional Studies, 1995, vol. 25, issue 3, 271-286

Abstract: This study offers a method for estimating the storm damage reduction benefits accruing to property owners from beach nourishment. We use a hedonic pricing model to estimate the increased protection value that wider beaches provide for single-fa mily homes in two South Carolina oceanfront communities. These storm damage reduction benefits accrue not only to oceanfront property that suffers the most damage, but also to properties farther back. We find that a proposed Army Corps of Engineers' nourishment project will produce approximately $63.8 million of cumulative benefits to owners of single-family homes, which translates into a benefit/cost ratio of 1.96.

Date: 1995
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