The implicit value of tree cover in the US: A meta-analysis of hedonic property value studies

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dc.contributor.authorSiriwardena, Shyamani D.en
dc.contributor.authorBoyle, Kevin J.en
dc.contributor.authorHolmes, Thomas P.en
dc.contributor.authorWiseman, P. Ericen
dc.contributor.departmentForest Resources and Environmental Conservationen
dc.date.accessioned2020-04-21T14:50:30Zen
dc.date.available2020-04-21T14:50:30Zen
dc.date.issued2016-08en
dc.description.abstractTrees in residential neighborhoods and communities provide benefits for homeowners that are capitalized into residential property values. In this paper, we collected data from hedonic property value studies and merged these data with ancillary spatial data describing forest and socio-economic characteristics surrounding each study area to conduct a meta-analysis of the impact of tree canopy cover on the value of residential properties. The meta-analysis suggests that property-level tree cover of about 30% and county-level tree cover of about 38% maximize the implicit price of tree cover in property values. Currently, tree cover in the original study areas was about 14%, on average, around or near study properties. The empirical results, therefore suggest under investment of tree cover on private property from the perspective of individual property owners and from a societal perspective. The findings also have implications for community forest programs regarding planting trees and protection of mature trees to address potential changes in tree abundance, species diversity and stand age due to development and climate change.en
dc.description.adminPublic domain – authored by a U.S. government employeeen
dc.description.notesThis research was supported by the Southern Research Station of the U.S. Forest Service (12-JV-11330143-106) and Virginia Agricultural Experimental Station.en
dc.description.sponsorshipSouthern Research Station of the U.S. Forest Service [12-JV-11330143-106]; Virginia Agricultural Experimental Stationen
dc.format.mimetypeapplication/pdfen
dc.identifier.doihttps://doi.org/10.1016/j.ecolecon.2016.04.016en
dc.identifier.eissn1873-6106en
dc.identifier.issn0921-8009en
dc.identifier.urihttp://hdl.handle.net/10919/97854en
dc.identifier.volume128en
dc.language.isoenen
dc.rightsCreative Commons CC0 1.0 Universal Public Domain Dedicationen
dc.rights.urihttp://creativecommons.org/publicdomain/zero/1.0/en
dc.subjectHedonic valuationen
dc.subjectTree canopy coveren
dc.subjectCommunity forestryen
dc.subjectForest matrixen
dc.subjectClimate changeen
dc.titleThe implicit value of tree cover in the US: A meta-analysis of hedonic property value studiesen
dc.title.serialEcological Economicsen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.dcmitypeStillImageen

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