The Impact of Road Quality on Nearby House Prices

Michael Cary and Brad Humphreys
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Michael Cary: Virginia Tech

No 26-07, Working Papers from Department of Economics, West Virginia University

Abstract: This paper estimates the impact of road quality on house prices in Hamilton County, Ohio, USA which includes the city of Cincinnati. We use a hedonic regression framework using road segmentlevel international roughness index (IRI) data as a measure of road quality. We find that rougher roads decrease house prices, with a one standard deviation increase in road roughness from the sample mean decreasing house prices by 3.5%. This equates to a $6,700 decrease in the value of an average priced home in our sample, demonstrating the importance of road quality and maintenance for local economic development.

Keywords: House Price Hedonic; IRI; Road Quality (search for similar items in EconPapers)
JEL-codes: R31 R42 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2026-05
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