You are here: Home
/ Publication Information
Title: The implicit value of tree cover in the U.S.: A meta-analysis of hedonic property value studies
Author: Siriwardena, Shyamani; Boyle, Kevin; Holmes, Tom; Wiseman, P. Eric;
Source: Ecological Economics
Publication Series: Scientific Journal (JRNL)
Description: Trees 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.
Keywords: Hedonic valuation Tree canopy cover Community forestry Forest matrix Climate change
- We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
- This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.
XML: View XML
Siriwardena, Shyamani; Boyle, Kevin; Holmes, Thomas P; Wiseman, P. Eric 2016 The implicit value of tree cover in the U.S.: A meta-analysis of hedonic property value studies. Ecological Economics 128: 68-76. 9 p.
Get the latest version of the Adobe Acrobat reader or Acrobat Reader for Windows with Search and Accessibility