Modeling the Effects of Refinery Emissions on Residential Property Values

Robert A. Simons, Youngme Seo and Paul Rosenfeld

Journal of Real Estate Research, 2015, vol. 37, issue 3, 321-342

Abstract: We examined the effects of refinery air pollution on house prices near Houston, Texas. The affected area was identified through AERMOD air modeling of past releases of sulfur dioxide, a proxy for respiratory risk. A total of 3,964 residential MLS sales from 2006 to 2011 were used to populate an OLS model, a spatial model, and a spatial model with an additional endogenous variable. The findings indicate that air pollution has a significant negative 6%–8% loss on house prices. For one year, the negative effect is shown to generally diminish with distance up to about two miles from the refinery.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:taf:rjerxx:v:37:y:2015:i:3:p:321-342

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DOI: 10.1080/10835547.2015.12091421

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