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Do High Voltage Electric Transmission Lines Affect Property Value?

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  • Stanley W. Hamilton
  • Gregory M. Schwann

Abstract

This paper empirically analyzes the impact of high voltage (defined as 69,000 volts or greater) electric transmission lines on the prices of nearby single detached houses. The study demonstrates the importance of using the correct function specification and correcting for (commonly found) heteroscedasticity. We find the electric transmission lines do have an effect on property value, but such effects are restricted to a narrow band and are primarily due to the visual externalities of the transmission towers.

Suggested Citation

  • Stanley W. Hamilton & Gregory M. Schwann, 1995. "Do High Voltage Electric Transmission Lines Affect Property Value?," Land Economics, University of Wisconsin Press, vol. 71(4), pages 436-444.
    • Handle: RePEc:uwp:landec:v:71:y:1995:i:4:p:436-444
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    Cited by:

    1. Silvia Banfi & Massimo Filippini & Andrea Horehájová, 2008. "Valuation of Environmental Goods in Profit and Non-Profit Housing Sectors: Evidence from the Rental Market in the City of Zurich," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 144(IV), pages 631-654, December.
    2. Shota Ishigooka & Tatsuhito Kono & Hajime Seya, 2021. "Urban Esthetic Benefits of Undergrounding Utility Lines in Consideration of the Three-Dimensional Landscape," Sustainability, MDPI, vol. 13(24), pages 1-19, December.
    3. Carr-Harris, Andrew & Lang, Corey, 2019. "Sustainability and tourism: the effect of the United States’ first offshore wind farm on the vacation rental market," Resource and Energy Economics, Elsevier, vol. 57(C), pages 51-67.
    4. Silvia Banfi & Massimo Filippini & Andrea Horehájová, 2012. "Using a choice experiment to estimate the benefits of a reduction of externalities in urban areas with special focus on electrosmog," Applied Economics, Taylor & Francis Journals, vol. 44(3), pages 387-397, January.
    5. Francois Des Rosiers, 2002. "Power Lines, Visual Encumbrance and House Values: A Microspatial Approach to Impact Measurement," Journal of Real Estate Research, American Real Estate Society, vol. 23(3), pages 275-302.
    6. Olivier JOALLAND & Tina RAMBONILAZA, 2017. "Assessing the impact of renewable energy infrastructure on the “tourist value” in rural landscapes: a spatial hedonic approach," Cahiers du GREThA (2007-2019) 2017-10, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    7. McNair, Ben J. & Bennett, Jeff & Hensher, David A., 2011. "A comparison of responses to single and repeated discrete choice questions," Resource and Energy Economics, Elsevier, vol. 33(3), pages 554-571, September.
    8. Tang, Cheng Keat & Gibbons, Stephen, 2024. "Are friends electric? Valuing the social costs of power lines using house prices," Energy Economics, Elsevier, vol. 134(C).
    9. Richard J. Vyn & Ryan M. McCullough, 2014. "The Effects of Wind Turbines on Property Values in Ontario: Does Public Perception Match Empirical Evidence?," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 62(3), pages 365-392, September.
    10. Lu, Qinan & Cheng, Nieyan & Zhang, Wendong & Liu, Pengfei, 2023. "Disamenity or premium: Do electricity transmission lines affect farmland values and housing prices differently?," Journal of Housing Economics, Elsevier, vol. 62(C).
    11. Giaccaria Sergio & Frontuto Vito & Dalmazzone Silvana, 2010. "Who’s afraid of power lines? Merging survey and GIS data to account for spatial heterogeneity," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201002, University of Turin.
    12. Boxall, Peter C. & Chan, Wing H. & McMillan, Melville L., 2005. "The impact of oil and natural gas facilities on rural residential property values: a spatial hedonic analysis," Resource and Energy Economics, Elsevier, vol. 27(3), pages 248-269, October.
    13. Peter C. Boxall, Wing H. Chan, and Melville L. McMillan, 2005. "The Impact of Oil and Natural Gas Facilities on Rural Residential Property," Working Papers eg0039, Wilfrid Laurier University, Department of Economics, revised 2005.
    14. Sally Sims & Peter Dent, 2005. "High-voltage Overhead Power Lines and Property Values: A Residential Study in the UK," Urban Studies, Urban Studies Journal Limited, vol. 42(4), pages 665-694, April.
    15. Darshana Rajapaksa & Wasantha Athukorala & Shunsuke Managi & Prasad Neelawala & Boon Lee & Viet-Ngu Hoang & Clevo Wilson, 2018. "The impact of cell phone towers on house prices: evidence from Brisbane, Australia," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 20(1), pages 211-224, January.
    16. Bo-sin Tang & Kwan To Wong, 2020. "Assessing externality: Successive event studies on market impacts of new housing development on an old residential neighbourhood," Environment and Planning B, , vol. 47(1), pages 156-173, January.
    17. Prasad Neelawala & Clevo Wilson & Wasantha Athukorala, 2013. "The impact of mining and smelting activities on property values: a study of Mount Isa city, Queensland, Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(1), pages 60-78, January.
    18. Detlof Von Winterfeldt & Thomas Eppel & John Adams & Raymond Neutra & Vincent DelPizzo, 2004. "Managing Potential Health Risks from Electric Powerlines: A Decision Analysis Caught in Controversy," Risk Analysis, John Wiley & Sons, vol. 24(6), pages 1487-1502, December.
    19. Gemma Delafield & Greg S. Smith & Brett Day & Robert Holland & Andrew Lovett, 2024. "The Financial and Environmental Consequences of Renewable Energy Exclusion Zones," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 87(2), pages 369-398, February.
    20. Fenrick, Steve A. & Getachew, Lullit, 2012. "Cost and reliability comparisons of underground and overhead power lines," Utilities Policy, Elsevier, vol. 20(1), pages 31-37.
    21. Delafield, Gemma & Smith, Greg S. & Day, Brett & Holland, Robert A. & Donnison, Caspar & Hastings, Astley & Taylor, Gail & Owen, Nathan & Lovett, Andrew, 2024. "Spatial context matters: Assessing how future renewable energy pathways will impact nature and society," Renewable Energy, Elsevier, vol. 220(C).
    22. Jain Niraj & Chileshe Roy A. & Muwowo Francis M & Mwewa Mambwe, 2019. "Perception Effects of High Voltage Transmission (HVT) Lines on Residential Property Values: Cases of Chalala, Libala South and Kamwala South Areas of Lusaka City-Zambia," Real Estate Management and Valuation, Sciendo, vol. 27(3), pages 31-41, September.
    23. Olivier JOALLAND & Tina RAMBONILAZA, 2017. "Valeur touristique des aménités environnementales et nuisances associées aux infrastructures d’énergie renouvelable : une approche hédonique spatiale," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 46, pages 93-115.
    24. Charles Thomas & Gerd Welke, 2017. "The Effect of HVTLs on Property Values: An Event Study," International Real Estate Review, Global Social Science Institute, vol. 20(2), pages 167-187.
    25. Choi, Hyunhong & Shim, Dongnyok & Kim, Seung Wan, 2024. "Heterogeneous public preferences for undergrounding high-voltage power transmission lines: The case of Seoul metropolitan area in South Korea," Energy Economics, Elsevier, vol. 132(C).

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