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Influence of natural amenities on residential property values in a rural setting.Author(s): E.M. White; L.A. Leefers
Source: Society and Natural Resources. 20: 659-667
Publication Series: Scientific Journal (JRNL)
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DescriptionMost hedonic pricing studies have been completed in suburban and urban communities rather than rural areas. The hedonic pricing study presented here includes developed residential parcel transactions occurring in a rural county in Michigan. We develop two hedonic pricing models using transactions data for two rural residential parcel types: developed parcels located in subdivisions and developed parcels not located in subdivisions. Proximity to lakes and subdivision open areas positively affected the values of some parcel types, whereas proximity to forested land, publicly owned streams, and a National Scenic River did not have a positive influence. Results found in this study completed in a rural setting contrast with the results of other studies completed in suburban and urban settings.
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CitationWhite, E.M.; Leefers, L.A. 2007. Influence of natural amenities on residential property values in a rural setting. Society and Natural Resources. 20: 659-667
KeywordsRecreation spending, national visitor use monitoring, economic impact
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