Valuing urban trees: A hedonic investigation into tree canopy influence on property values across environmental and social contexts in Baltimore,Maryland |
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| Affiliation: | 1. Environmental Studies Program, University of Colorado, Boulder 397 UCB, Boulder 80309, CO, USA;2. Barcelona Institute for Global Health, C/ del Dr. Aiguader, 88, 08003 Barcelona;3. Colorado Department of Natural Resources, 1313 Sherman Street, Denver 80203, CO, USA;4. College of Architecture and Planning, University of Colorado, Denver, CU Denver Building, 1250 14th Street, 2000, Denver, CO 80202, USA;1. Forest & Nature Lab, Department of Environment, Faculty of Bioscience Engineering, Ghent University, Belgium;2. Centre for Environmental and Energy Law, Department of European, Public and International Law, Ghent University, Belgium;3. Quality Assurance Office, Department of Educational Policy, Ghent University, Belgium;4. Research Group Mycology, Department of Biology, Faculty of Sciences, Ghent University, Belgium;5. Department of Infrastructure and Facility Management, Ghent University, Belgium;1. University Iuav, Palazzo Badoer, San Polo 2468, Venice, Italy;2. University of Lodz, Faculty of Economics and Sociology, P.O.W. 3/5, 90-255 Łódź, Poland;3. Humboldt University Berlin, Rudower Ch 16, 12489 Berlin, Germany;4. Helmholtz Centre for Environmental Research – UFZ, Permoserstraße 15, 04318 Leipzig, Germany;1. College of Horticulture and Landscape Architecture, Southwest University, Chongqing 400715, China;2. Key Laboratory of Urban Environment and Health, Institute of Urban Environment, Chinese Academy of Sciences, Xiamen 361021, China;3. Urban and Rural Planning Department, School of Architecture, Southwest Jiaotong University, Chengdu 611756, China;4. College of Architecture and Urban Planning, Tongji University, Shanghai 200092, China;5. China Construction Third Engineering Bureau Green Industry Investment Co. Ltd., Wuhan, Hubei 430056, China;1. Key Laboratory of Tree Breeding and Cultivation of National Forestry and Grassland Administration, Research Institute of Forestry, Chinese Academy of Forestry, Beijing 100091, China;2. Research Center of Urban Forest of National Forestry and Grassland Administration, Beijing 100091, China;3. Research Center for Urban Forestry, College of Forestry, Beijing Forestry University, Beijing 100083, China;4. State Key Laboratory of Earth Surface Processes and Resource Ecology, Beijing Normal University;1. Warsaw University of Life Sciences - SGGW, Institute of Environmental Engineering, Department of Remote Sensing and Environmental Assessment, Nowoursynowska 166, 02-776 Warsaw, Poland;2. Warsaw University of Life Sciences – SGGW, Institute of Environmental Engineering, Department of Landscape Architecture, Nowoursynowska 166, 02-776 Warsaw, Poland;3. Kielce University of Technology, Department of Civil Engineering and Architecture, al. Tysiąclecia Państwa Polskiego 7, 25-314 Kielce, Poland;4. University of Lodz, Social-Ecological Systems Analysis Lab, Faculty of Economics and Sociology, Rewolucji 1905 r. 39, 90-214 Łódz, Poland;5. Natural Resources Institute, University of Greenwich, Central Avenue, Chatham Maritime, Kent ME4 4TB, UK |
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| Abstract: | Urban tree canopy yields numerous environmental and social benefits. This study investigates whether the marginal contribution of tree canopy cover to home values depends on certain characteristics of a property and its location. We address this using a hedonic property analysis with data from Baltimore, Maryland. Both Ordinary Least Square and Spatial Lag models were conducted, all including interaction terms between tree canopy cover and various site factors. Our results indicated that, on average, the amount of tree canopy in the 100–400 zone around a single-family property is positively associated with home price. We also find that the marginal impact of canopy on property price increases for properties that are larger in lot size and closer to downtown Baltimore. Model results were mixed in terms of the interactive effects of crime and proximity to major roadway with tree canopy. We suggest that the benefits that tree canopy provides in the form of added privacy, reduced urban heat, noise and pollution may influence these price increases. These findings may signal concerns about the potential for urban greening to contribute to gentrification. In a competitive housing market, those with the capacity to afford to pay more for urban tree canopy and the benefits it provides such as a cooler downtown environment, privacy on larger lots, or reduced noise and pollution from a major roadway may price out those who are unable to pay this urban tree canopy premium. There is, therefore, the potential for unequal increases in home equity across neighborhoods following tree planting and urban greening in Baltimore. |
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| Keywords: | Baltimore Urban tree canopy Hedonic analysis Property value Green gentrification Environmental justice |
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