Valuing impacts of proximity to Saguaro National Park on house prices

Julie Mueller, John B. Loomis, Leslie Richardson and Ryan A. Fitch

Applied Economic Perspectives and Policy, 2022, vol. 44, issue 3, 1359-1372

Abstract: Proximity to public lands is well established within the literature as having a positive effect on nearby house prices. However, little research exists examining the impact of proximity to national parks. We use a hedonic property model with matching methods to estimate the value of proximity to Saguaro National Park West and Tucson Mountain Park. We find positive impacts of proximity to each park, with a larger aggregate effect from proximity to Saguaro National Park West. Our results provide useful insight into the potential impacts of changes in land use designation on nearby house prices.

Date: 2022
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https://doi.org/10.1002/aepp.13196

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Persistent link: https://EconPapers.repec.org/RePEc:wly:apecpp:v:44:y:2022:i:3:p:1359-1372

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