The value of a healthy home : lead paint remediation and housing values / Stephen B. Billings (University of Colorado), Kevin T. Schnepel (University of Sydney and IZA) ; IZA Institute of Labor Economics
VerfasserBillings, Stephen B. In der Gemeinsamen Normdatei der DNB nachschlagen ; Schnepel, Kevin T. In der Gemeinsamen Normdatei der DNB nachschlagen
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBonn, Germany : IZA Institute of Labor Economics, July 2017
Elektronische Ressource
Umfang1 Online-Ressource (36 Seiten) : Diagramme
SerieDiscussion paper ; no. 10873
URNurn:nbn:de:hbz:5:2-134684 Persistent Identifier (URN)
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The value of a healthy home [0.51 mb]
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The presence of lead paint significantly impairs cognitive and behavioral development, yet little is known about the value to households of avoiding this residence-specific environmental health risk. In this paper, we estimate the benefits of lead-paint remediation on housing prices. Using data on all homes that applied to a HUD-funded program in Charlotte, North Carolina, we adopt a difference-in-differences estimator that compares values among remediated properties with those for which an inspection does not identify a lead paint hazard. Results indicate large returns for public and private investment in remediation with each $1 spent on lead remediation generating $2.60 in benefits as well as a reduction in residential turnover.