PT  - JOURNAL ARTICLE
AU  - Bin, Okmyung
AU  - Polasky, Stephen
TI  - Effects of Flood Hazards on Property Values: Evidence Before and After Hurricane Floyd
AID  - 10.2307/3655805
DP  - 2004 Nov 01
TA  - Land Economics
PG  - 490--500
VI  - 80
IP  - 4
4099  - http://le.uwpress.org/content/80/4/490.short
4100  - http://le.uwpress.org/content/80/4/490.full
SO  - Land Econ2004 Nov 01; 80
AB  - This study uses a hedonic property price function to estimate the effects of flood hazards on residential property value. Utilizing data from sales of 8,000 single-family residential homes between 1992 and 2002 in Pitt County, North Carolina, an area that experienced significant flooding from Hurricane Floyd in September 1999, we find that a house located within a floodplain has a lower market value than an equivalent house located outside the floodplain. Furthermore, the price discount from locating within a floodplain is significantly larger after Hurricane Floyd than before. (JEL Q54)