THE JOURNAL OF REAL ESTATE RFSEARCH The Impact of Landfills on Residential Property Values

Absiruet. 'Ik parpose of this study is to detwntine the impaçt of five municipal landfiils on residential pmperty value in a major metmpoütfm area (Cleveland, Ohio). The " d y cuncludes îhat Ipndfills will Iikely have an adverse impact upon W i vaiues when the kdîlll is lorated withm several biocks of BR expensive housiag area. The negatiw impact is between 5.5%-7.3 % of market value depending upw the actual distance fmm the ImifiII. For fess expensive, d e r areas the IdBi1 effect is moddembly les pmmumced, ranging frum 3%4 % of murket value, and essentiaüy nonexistefit for predominantly mal areas Introduction and Sîudy Objectives The purpose of this study is to determine the impact of municipal landfills on residential property values in a major mctropolitan area (Cleveland. Ohio). It seems elear that homeowners have personal and financial incentives to protect their environ-ment and the value of their real esiate investment. Even iudustrial firms, which them