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.

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 August 21, 2014 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 August 21, 2014).

Share This




More Earth & Climate News

Thursday, August 21, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Unsustainable Elephant Poaching Killed 100K In 3 Years

Unsustainable Elephant Poaching Killed 100K In 3 Years

Newsy (Aug. 20, 2014) Poachers have killed 100,000 elephants between 2010 and 2012, as the booming ivory trade takes its toll on the animals in Africa. Video provided by Newsy
Powered by NewsLook.com
Charter Schools Alter Post-Katrina Landscape

Charter Schools Alter Post-Katrina Landscape

AP (Aug. 20, 2014) Nine years after Hurricane Katrina, charter schools are the new reality of public education in New Orleans. The state of Louisiana took over most of the city's public schools after the killer storm in 2005. (Aug. 20) Video provided by AP
Powered by NewsLook.com
Green Power Blooms as Japan Unveils 'hydrangea Solar Cell'

Green Power Blooms as Japan Unveils 'hydrangea Solar Cell'

AFP (Aug. 19, 2014) A solar cell that resembles a flower is offering a new take on green energy in Japan, where one scientist is searching for renewables that look good. Duration: 01:29 Video provided by AFP
Powered by NewsLook.com
Disquieting Times for Malaysia's 'fish Listeners'

Disquieting Times for Malaysia's 'fish Listeners'

AFP (Aug. 19, 2014) Malaysia's last "fish listeners" -- practitioners of a dying local art of listening underwater to locate their quarry -- try to keep the ancient technique alive in the face of industrial trawling and the depletion of stocks. Duration: 02:29 Video provided by AFP
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:
from the past week

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