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| Fridgen, Patrick M.; Shultz, Steven D.. |
| The hedonic valuation method (HVM) was used to quantify the impact of the threat of flooding on housing values in Fargo, North Dakota and Moorhead, Minnesota (Fargo-Moorhead). Prices of 3,783 Fargo-Moorhead homes sold between 1995 and 1998 were regressed against structural housing characteristics, neighborhood and environmental indicators, and three flood risk variables. Being located in the 100-year floodplain lowered the sale price of an average home by $8,990 and approximately 81 percent of the price depreciation was associated with required flood insurance premiums. After the extensive 1997 flood, homes in the 100-year floodplain were on average priced $10,241 less than similar homes located outside the floodplain and before the 1997 flood event.... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Hedonic valuation method; Flooding; Floodplain; Fargo; Moorhead; Red River of the North; Housing values; Community/Rural/Urban Development. |
| Ano: 1999 |
URL: http://purl.umn.edu/23155 |
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