Using Micro Data to Assess Traffic Noise Impact on Residential Property Value: An Application of the Hedonic Model

摘要

This research examined the impact of highway traffic noise on residential property values. Micro leveldata were used to control for the characteristics of the properties, and FHWA TNM V2.5 was used tocalculate the traffic noise level for each selected sample. Hedonic methods were employed to decomposeproperty value to its base characteristics. Linear regression models were constructed to estimate theNoise Depreciation Sensitive Index (NSDI). By applying the data from Jefferson County, Kentucky, acorrelation coefficient of -0.0034 was obtained for the traffic noise variable, which means a unit increasein the traffic noise level (dBA in Leq) will cause a depreciation of a property by 0.34% of its sale price.The procedure presented in this research could thus provide state transportation agencies with hard datafor establishing cost criteria for noise barrier construction decisions.