The impact of gunfire on residential property values

Stephen Locke, Michael Toma and Jason Beck

Applied Economics, 2025, vol. 57, issue 50, 8407-8420

Abstract: Hedonic studies of housing unit prices routinely attribute lower prices to perceived undesirable attributes and or amenities of the property sold. A steady stream of literature finds that criminal behaviour is negatively capitalized into housing unit prices. This study focuses on the effects of geocoded gunfire incidents on housing unit prices while controlling for other attributes and amenities at the census-block group level. The primary finding is that spatial and temporal proximity of gunfire incidents reduces housing unit prices in an analysis of 3,844 gunfire incidents, involving over 15,000 rounds of gunfire and 2,053 housing unit sales in Savannah, Georgia, from 2015 to 2020. The effect of gunfire is greater when it occurs in the immediate vicinity of the property. Heterogeneous effects on sale prices were found to be present across time and space when intensity was measured by the number of days with gunfire incidents and to a lesser extent when intensity was measured by the number of shots fired in each incident.

Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/00036846.2024.2399816 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:v:57:y:2025:i:50:p:8407-8420

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEC20

DOI: 10.1080/00036846.2024.2399816

Access Statistics for this article

Applied Economics is currently edited by Anita Phillips

More articles in Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().