Effects on residential property values of proximity to a site contaminated with radioactive waste
An issue often raised by the public regarding projects that involve hazardous chemical or radioactive waste sites is whether distance from these sites affects residential property values. Previous research has studied changes in the housing market in communities near Three Mile Island after the 1979 accident and legal precedents of compensation for loss of property value because of proximity to hazardous areas. However, this research has not addressed effects on residential property values of proximity specifically to hazardous chemical or radioactive waste sites. The effects of the proximity of residence to such a site in West Chicago, Illinois - used for many years for disposal of thorium waste from processing ores - were investigated in this study. Single-family residence sales located within about 0.4 km of the West Chicago site were compared with residence sales located between 0.4 km and 1.6 km from the site. Trends in average annual selling prices were analyzed both before and after publicity appeared about the existence of the radioactive material at the site. Results indiate that older residences (built before 1950) located within about 0.4 km of the disposal site experienced a prolonged depression in selling prices after the publicity, in comparison with older residences located farther from the site and with all transactions on newer residences. These results confirm to some extent public perceptions and potentially raise legal issues associated with property values. Suggestions are provided for mitigative measures to alleviate these issues. 22 references, 1 figure.
- Research Organization:
- Argonne National Lab., IL (USA); Utah Univ., Salt Lake City (USA). Dept. of Sociology; Skidmore, Owings, and Merrill, Boston, MA (USA)
- DOE Contract Number:
- W-31-109-ENG-38
- OSTI ID:
- 5963831
- Report Number(s):
- CONF-850314-14; ON: DE85007952
- Resource Relation:
- Conference: Waste management '85, Tucson, AZ, USA, 24 Mar 1985
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
29 ENERGY PLANNING
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RESIDENTIAL BUILDINGS
PROPERTY VALUES
RADIOACTIVE WASTE DISPOSAL
BUILDINGS
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WASTE MANAGEMENT
052002* - Nuclear Fuels- Waste Disposal & Storage
530100 - Environmental-Social Aspects of Energy Technologies- Social & Economic Studies- (-1989)