The Impact of Special Flood Hazard Area Designation on Residential Property Values-Reference-Cited by-同舟云学术

The Impact of Special Flood Hazard Area Designation on Residential Property Values

Published:2010-10 Issue:2 Volume:15 Page:81-90
ISSN:1087-724X
Container-title:Public Works Management & Policy
language:en
Short-container-title:Public Works Management & Policy

Author:

Posey John¹,Rogers William H.²

Affiliation:

1. East-West Gateway Council of Government, St. Louis, MO,

2. University of Missouri at St. Louis

Abstract

Floodplains in the United States are designated by the federal government as special flood hazard areas (SFHA). There is a dearth of published work on the effect of SFHA designation on property values in noncoastal areas. This research note addresses this lacuna by analyzing home sales prices in St. Louis County, Missouri. A hedonic model with correction for spatial autocorrelation indicates that being located in a SFHA reduces the value of a property by about 8.6%, including both direct and indirect effects. This information is relevant to ongoing policy discussions regarding weakened levee systems in the United States.

Publisher

SAGE Publications

Subject

Public Administration,Sociology and Political Science,Business, Management and Accounting (miscellaneous)

Link

http://journals.sagepub.com/doi/pdf/10.1177/1087724X10380275

Reference25 articles.

1. Spatial Econometrics: Methods and Models

2. Viewscapes and Flood Hazard: Coastal Housing Market Response to Amenities and Risk

3. Real Estate Market Response to Coastal Flood Hazards

4. Can Natural Experiments Measure Behavioral Responses to Environmental Risks?

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