IDEAS home Printed from https://ideas.repec.org/a/wsi/ccexxx/v05y2014i03ns2010007814500092.html
   My bibliography  Save this article

Estimates Of Changes In County-Level Housing Prices In The United States Under Scenarios Of Future Climate Change

Author

Listed:
  • FRANCES SUSSMAN

    (ICF International, Environmental and Social Sustainability Division, 1725 Eye Street, NW, Washington DC 20006, USA)

  • BANSARI SAHA

    (ICF International, Environmental and Social Sustainability Division, 100 Cambridgepark Drive, Cambridge, MA 02140, USA)

  • BRITTA G. BIERWAGEN

    (US Environmental Protection Agency, Office of Research and Development, National Center for Environmental Assessment, 1200 Pennsylvania Avenue, NW, MC 8601-P, Washington DC 20460, USA)

  • CHRISTOPHER P. WEAVER

    (US Environmental Protection Agency, Office of Research and Development, National Center for Environmental Assessment, 1200 Pennsylvania Avenue, NW, MC 8601-P, Washington DC 20460, USA)

  • WILL COOPER

    (ICF International, Environmental and Social Sustainability Division, 9300 Lee Highway, Fairfax, VA 22031, USA)

  • PHILIP E. MOREFIELD

    (US Environmental Protection Agency, Office of Research and Development, National Center for Environmental Assessment, 1200 Pennsylvania Avenue, NW, MC 8601-P, Washington DC 20460, USA)

  • JOHN V. THOMAS

    (US Environmental Protection Agency, Office of Sustainable Communities, Community Assistance and Research Division, 1200 Pennsylvania Avenue, NW, MC 1807-T, Washington DC 20460, USA)

Abstract

Climate in a given location influences people's housing decisions, and changes in climate may affect these decisions in ways that alter our understanding of desirable locations. This study examines the potential sensitivity of future housing prices in the United States to changes in temperature, precipitation, and humidity by developing a hedonic regression model of the relationship between climate variables and housing prices and exploring implications of different climate futures for the amenity value of climate in these prices. The model shows a significant relationship between housing prices in urban areas and certain climate variables. The study then examines the sensitivity of the amenity value of climate to future climate scenarios. Results suggest that, nationally, climate change represents a disamenity, particularly in central-to-southeastern states. However, detailed housing prices vary spatially and among scenarios. Seasonal variation in temperature, including the relative magnitudes of the change in January and July temperatures, is a key determinant of housing price change, contributing to variation across both climate scenarios and geographic location.

Suggested Citation

  • Frances Sussman & Bansari Saha & Britta G. Bierwagen & Christopher P. Weaver & Will Cooper & Philip E. Morefield & John V. Thomas, 2014. "Estimates Of Changes In County-Level Housing Prices In The United States Under Scenarios Of Future Climate Change," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 5(03), pages 1-23.
    • Handle: RePEc:wsi:ccexxx:v:05:y:2014:i:03:n:s2010007814500092
    DOI: 10.1142/S2010007814500092
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S2010007814500092
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S2010007814500092?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Katrin Rehdanz & David Maddison, 2009. "The amenity value of climate to households in Germany," Oxford Economic Papers, Oxford University Press, vol. 61(1), pages 150-167, January.
    2. Sinha, Paramita & Cropper, Maureen L., 2013. "The Value of Climate Amenities: Evidence from US Migration Decisions," RFF Working Paper Series dp-13-01, Resources for the Future.
    3. McGranahan, David A., 1999. "Natural Amenities Drive Rural Population Change," Agricultural Economic Reports 33955, United States Department of Agriculture, Economic Research Service.
    4. David Albouy & Walter Graf & Ryan Kellogg & Hendrik Wolff, 2016. "Climate Amenities, Climate Change, and American Quality of Life," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 3(1), pages 205-246.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rivera, Nathaly M. & Loveridge, Scott, 2022. "Coal-to-gas fuel switching and its effects on housing prices," Energy Economics, Elsevier, vol. 106(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. H. Allen Klaiber & Joshua K. Abbott & V. Kerry Smith, 2017. "Some Like It (Less) Hot: Extracting Trade-Off Measures for Physically Coupled Amenities," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 4(4), pages 1053-1079.
    2. Helena Meier & Katrin Rehdanz, 2017. "The amenity value of the British climate," Urban Studies, Urban Studies Journal Limited, vol. 54(5), pages 1235-1262, April.
    3. Severen, Christopher & Costello, Christopher & Deschênes, Olivier, 2018. "A Forward-Looking Ricardian Approach: Do land markets capitalize climate change forecasts?," Journal of Environmental Economics and Management, Elsevier, vol. 89(C), pages 235-254.
    4. Ahmadiani, Mona & Ferreira, Susana, 2019. "Environmental amenities and quality of life across the United States," Ecological Economics, Elsevier, vol. 164(C), pages 1-1.
    5. Anna Marandi & Kelly Leilani Main, 2021. "Vulnerable City, recipient city, or climate destination? Towards a typology of domestic climate migration impacts in US cities," Journal of Environmental Studies and Sciences, Springer;Association of Environmental Studies and Sciences, vol. 11(3), pages 465-480, September.
    6. Sinha, Paramita & Caulkins, Martha L. & Cropper, Maureen L., 2018. "Household location decisions and the value of climate amenities," Journal of Environmental Economics and Management, Elsevier, vol. 92(C), pages 608-637.
    7. Lu, Jiajun, 2020. "Household residential location choice in retirement: The role of climate amenities," Regional Science and Urban Economics, Elsevier, vol. 84(C).
    8. Oliveira, Jaqueline & Pereda, Paula, 2020. "The impact of climate change on internal migration in Brazil," Journal of Environmental Economics and Management, Elsevier, vol. 103(C).
    9. Sheldon, Tamara L. & Zhan, Crystal, 2022. "The impact of hurricanes and floods on domestic migration," Journal of Environmental Economics and Management, Elsevier, vol. 115(C).
    10. Maddison, David & Rehdanz, Katrin, 2011. "The impact of climate on life satisfaction," Ecological Economics, Elsevier, vol. 70(12), pages 2437-2445.
    11. Shaun A. Golding & Richelle L. Winkler, 2020. "Tracking Urbanization and Exurbs: Migration Across the Rural–Urban Continuum, 1990–2016," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 39(5), pages 835-859, October.
    12. Plantinga, Andrew J. & Détang-Dessendre, Cécile & Hunt, Gary L. & Piguet, Virginie, 2013. "Housing prices and inter-urban migration," Regional Science and Urban Economics, Elsevier, vol. 43(2), pages 296-306.
    13. Daniel C. Monchuk & John A. Miranowski & Dermot J. Hayes & Bruce A. Babcock, 2007. "An Analysis of Regional Economic Growth in the U.S. Midwest," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 29(1), pages 17-39.
    14. Nicolai V. Kuminoff, 2018. "Can Understanding Spatial Equilibria Enhance Benefit Transfers for Environmental Policy Evaluation?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(3), pages 591-608, March.
    15. repec:rri:wpaper:200711 is not listed on IDEAS
    16. Cristina Cattaneo & Emanuele Massetti, 2019. "Does Harmful Climate Increase Or Decrease Migration? Evidence From Rural Households In Nigeria," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 10(04), pages 1-36, November.
    17. Ezra Oberfield & Devesh Raval, 2021. "Micro Data and Macro Technology," Econometrica, Econometric Society, vol. 89(2), pages 703-732, March.
    18. Joshua Graff Zivin & Solomon M. Hsiang & Matthew Neidell, 2018. "Temperature and Human Capital in the Short and Long Run," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 5(1), pages 77-105.
    19. Sinha, Paramita & Caulkins, Martha & Cropper, Maureen L., 2018. "Do Discrete Choice Approaches to Valuing Urban Amenities Yield Different Results Than Hedonic Models?," RFF Working Paper Series 18-02, Resources for the Future.
    20. Andrés Rodríguez-Pose & Tobias D. Ketterer, 2012. "Do Local Amenities Affect The Appeal Of Regions In Europe For Migrants?," Journal of Regional Science, Wiley Blackwell, vol. 52(4), pages 535-561, October.
    21. Qin Fan & Meri Davlasheridze, 2019. "Economic Impacts Of Migration And Brain Drain After Major Catastrophe: The Case Of Hurricane Katrina," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 10(01), pages 1-21, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:ccexxx:v:05:y:2014:i:03:n:s2010007814500092. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/cce/cce.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.