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Title: The value of urban tree cover: A hedonic property price model in Ramsey and Dakota Counties, Minnesota, USA
Author: Sander, Heather; Polasky, Stephen; Haight, Robert.
Publication: Ecological Economics. 69: 1646-1656.
Key Words: hedonic pricing, urban forestry, tree cover
Abstract: Urban tree cover benefits communities. These benefits' economic values, however, are poorly recognized and often ignored by landowners and planners. We use hedonic property price modeling to estimate urban tree cover's value in Dakota and Ramsey Counties, MN, USA, predicting housing value as a function of structural, neighborhood, and environmental variables, including tree cover, using a spatial simultaneous autoregressive (SAR) error model. We measure tree cover as percent tree cover on parcels, and within 100, 250, 500, 750, and 1000 m. Results show that tree cover within 100 and 250 m is positive and statistically significant.
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