The Impact of Hazardous Waste Superfund Sites on the Value of Houses Sold in New Jersey

M Greenberg and J Hughes

The Annals of Regional Science, 1992, vol. 26, issue 2, 147-53

Abstract: Changes in the sales prices of houses in 77 communities in New Jersey with hazardous waste Superfund sites were compared to sales prices in communities without Superfund sites. The authors observed a statistically significant tendency for sales prices in Superfund communities that were rural or were in regions undergoing rapid price increases to increase less than sales prices in non-Superfund townships. The hazard rating of the site did not appear to influence sales price. Factors that could make the results unique to New Jersey and alternative explanations of the results, including the scale of the study, are discussed.

Date: 1992
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