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Is Airport Proximity an Amenity or Disamenity? An Empirical Investigation Based on House Prices

Author

Listed:
  • Ermanno Affuso
  • Steven B. Caudill
  • Franklin G. Mixon, Jr.
  • Kevin W. Starnes

Abstract

We use a spatial autoregressive model with directional effects to assess the impact of airport noise on housing values in Memphis, Tennessee, home of the busiest cargo airport in the United States. Our model is combined with a spatial dataset that contains information on noise levels, property characteristics, and neighborhood characteristics for 9,606 properties sold between 2011 and 2016. Results of our research suggest that the Memphis International Airport is perceived as a disamenity, with areas of the city affected to different degrees, with a potential average external cost of $4,795 per decibel of noise per household.

Suggested Citation

  • Ermanno Affuso & Steven B. Caudill & Franklin G. Mixon, Jr. & Kevin W. Starnes, 2019. "Is Airport Proximity an Amenity or Disamenity? An Empirical Investigation Based on House Prices," Land Economics, University of Wisconsin Press, vol. 95(3), pages 391-408.
    • Handle: RePEc:uwp:landec:v:95:y:2019:i:3:p:391-408
    Note: DOI: 10.3368/le.95.3.391
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    Citations

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    Cited by:

    1. João Ricardo Faria & Franklin G. Mixon, 2022. "Labor Markets and Sustainability: Short-Run Dynamics and Long-Run Equilibrium," Sustainability, MDPI, vol. 14(7), pages 1-10, April.
    2. Patrick Gourley, 2021. "Curb appeal: how temporary weather patterns affect house prices," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 67(1), pages 107-129, August.

    More about this item

    JEL classification:

    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • D62 - Microeconomics - - Welfare Economics - - - Externalities

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