THE EFFECTS OF FARMLAND, FARMLAND PRESERVATION AND OTHER NEIGHBORHOOD AMENITIES ON PROXIMATE HOUSING VALUES: RESULTS OF A CONJOINT ANALYSIS OF HOUSING CHOICE

Elena Irwin, Brian Roe and Hazel Morrow-Jones

No 19611, 2002 Annual meeting, July 28-31, Long Beach, CA from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Using stated-preference data from a choice-based conjoint analysis instrument, we estimate willingness to pay for the presence of neighboring land that is dedicated to agricultural use (versus a developed land use) and for the preservation of surrounding farmland as permanent cropland. The data also elucidate how individuals balance the values associated with nearby agricultural land patterns with other key neighborhood characteristics such as neighborhood parks, housing density, commute times, school quality and neighborhood safety. The median respondent from a randomly chosen sample of Columbus, Ohio homeowners was willing to pay $843 annually to avoid immediate conversion of 10 percent of agricultural land within one mile of the house valued in the conjoint experiment while the same respondent was willing to pay $277 annually to preserve the same amount of farmland as permanent cropland. We find provision of neighborhood parks within housing developments to be a strong substitute for farmland preservation.

Keywords: Land; Economics/Use (search for similar items in EconPapers)
Pages: 28
Date: 2002
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea02:19611

DOI: 10.22004/ag.econ.19611

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