Effects of Flood Hazards on Property Values : Evidence Before and After Hurricane

@inproceedings{Bin2003EffectsOF,
  title={Effects of Flood Hazards on Property Values : Evidence Before and After Hurricane},
  author={Okmyung Bin},
  year={2003}
}
This study uses a hedonic property price function to estimate the effects of flood hazards on residential property values. The study utili zes data from over 8,000 single-family residential home sales in Pitt County, North Carolina between 1992 and 2002. This area experienced significant flooding from Hurricane Floyd in September 1999. Results show that a house located within a floodplain has a lower market value than an equivalent house located outside the floodplain. Furthermore, the price… CONTINUE READING