Does Proximity to Wind Farms Affect the Value of Nearby Residential Properties? Evidence from Washington and New York States

The rapid growth of wind farms across rural communities in the U.S. has spurred concerns over the effect of wind turbines on residential property values. This paper presents a hedonic regression analysis of property values using a partial panel of properties from two counties in the United States. A total of 24 models are estimated. This paper compares the results of market and county-assessed data, interaction terms, and varying assumptions about the effect of wind turbines. This study finds weak evidence that property values near wind turbines are lower than nearby areas, but given methodological limitations and likely endogeneity bias further research is necessary