Full Title: Housing Market Impacts of Unconventional Oil and Gas Development
Author(s): Alan J. Krupnick & Isabel Echarte
Publisher(s): Resources For the Future
Publication Date: June 1, 2017
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Description (excerpt):
Changes in housing prices as a result of unconventional oil and gas development are useful indicators of community perceptions about the benefits and damages of such development, as they aggregate and monetize preferences of home buyers and sellers. In this report, we review 16 studies of the housing market impacts of unconventional oil and gas development, focusing our discussion on the studies that use hedonic analysis, assessing changes in home prices related to proximity to unconventional oil and gas development. A few studies reviewed also focus on lease clauses, rental rates, farm values, and tax base changes. The largest number of studies (six) use data from Pennsylvania, with two of these comparing Pennsylvania housing prices with those of New York, exploiting the moratorium on drilling in New York. Two focus on Tarrant County, Texas, and one looks at the Barnett shale region in Texas, and two analyze data for Weld County, Colorado. A few examine multiple regions.