Featured Research

from universities, journals, and other organizations

Proximity To A Flood Zone Lowers Property Values

Date:
April 3, 2008
Source:
Wiley-Blackwell
Summary:
Proximity to a flood zone lowers property values. By law, a property is considered in a “flood zone” if any part of the structure falls within a floodplain, an area that is adjacent to a stream or river that experiences periodic flooding. It has been acknowledged that the level of risk associated with a property may be associated with natural hazards.

A new study reveals that proximity to a flood zone lowers property values.

Related Articles


By law, a property is considered in a “flood zone” if any part of the structure falls within a floodplain, an area that is adjacent to a stream or river that experiences periodic flooding. It has been acknowledged that the level of risk associated with a property may be associated with natural hazards.

Researchers examined flood hazards in the coastal housing market of Carteret County, North Carolina. Carteret County has substantial access to water including the Atlantic Ocean, the Pamlico Sound, waterways, lagoons, rivers, streams, creeks, and wetlands.

Utilizing Geographic Information System data on National Flood Insurance Program flood zones and residential property sales in Carteret County from 2000 to 2004, researchers examined the effects of flood hazards on coastal property values.

The findings indicate that the price of a residential property located within a floodplain is significantly lower than an otherwise similar house located outside the flood zone. On average, location within a floodplain lowers estimated sales value $11, 600, representing a 7.3 percent reduction of the average house sales price.

At a time when the size of the population living along US coastlines is expanding at more than double the national rate of population growth, the information presented in this study should be regarded as a call to action. “With over half of the U.S. population now residing in coastal counties, the need for public policy analysis of hazards that affect these locations is compelling and urgent,” the authors conclude.

This study is published in the March 2008 issue of the Journal of Risk & Insurance.


Story Source:

The above story is based on materials provided by Wiley-Blackwell. Note: Materials may be edited for content and length.


Cite This Page:

Wiley-Blackwell. "Proximity To A Flood Zone Lowers Property Values." ScienceDaily. ScienceDaily, 3 April 2008. <www.sciencedaily.com/releases/2008/04/080403152742.htm>.
Wiley-Blackwell. (2008, April 3). Proximity To A Flood Zone Lowers Property Values. ScienceDaily. Retrieved April 1, 2015 from www.sciencedaily.com/releases/2008/04/080403152742.htm
Wiley-Blackwell. "Proximity To A Flood Zone Lowers Property Values." ScienceDaily. www.sciencedaily.com/releases/2008/04/080403152742.htm (accessed April 1, 2015).

Share This


More From ScienceDaily



More Earth & Climate News

Wednesday, April 1, 2015

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Raw: Homes Threatened by Washington Landslide

Raw: Homes Threatened by Washington Landslide

AP (Mar. 31, 2015) The city of Des Moines, Washington says it could be weeks before a landslide that damaged several homes settles, according to KOMO. (March 31) Video provided by AP
Powered by NewsLook.com
Models in Masks Highlight Indonesian Environmental Devastation

Models in Masks Highlight Indonesian Environmental Devastation

AFP (Mar. 31, 2015) Wearing gas masks and designer dresses, models condemn the fashion industry&apos;s role in causing environmental devastation. Duration: 00:40 Video provided by AFP
Powered by NewsLook.com
California on Alert Over Surge in Sea Lion Strandings

California on Alert Over Surge in Sea Lion Strandings

AFP (Mar. 31, 2015) Since the start of the year, thousands of baby sea lions have washed up on beaches along the west coast of the United States. Marine animal care centers are working around the clock to save the stranded creatures. Duration: 02:06 Video provided by AFP
Powered by NewsLook.com
Dutch Architects Show Off 3D House-Building Prowess

Dutch Architects Show Off 3D House-Building Prowess

Reuters - Innovations Video Online (Mar. 31, 2015) Dutch architects are constructing a 3D-printed canal-side home, which they hope will spark an environmental revolution in the house-building industry. Jim Drury reports. Video provided by Reuters
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:

Strange & Offbeat Stories


Plants & Animals

Earth & Climate

Fossils & Ruins

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins