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8755424 
Journal Article 
The impact of brownfields on residential property values in Cincinnati, Ohio: A spatial hedonic approach 
Mihaescu, O; Vom Hofe, R 
2012 
42 
3 
223-236 
English 
This paper empirically assesses the impact brownfield sites have on market values of single-family residential properties. Using three different hedonic model specifications, Ordinary Least Squares and Spatial Autoregressive and Spatial Error Models, this study shows that properties located less than 1,000 feet from a brownfield site experience a significant depreciation in property values. As expected, spatial dependence among real estate property values is present, meaning that the two spatial hedonic model specifications are superior to the Ordinary Least Squares specification. The study contributes to the relevant real estate and urban economics literature by determining the negative impact brownfield sites have on the value of single-family residential properties in our study region in Cincinnati, Ohio, by explicitly accounting for the phenomenon of spatial dependence in the dependent variable and by addressing the declining influence of brownfield sites on property values in a nonlinear relationship. copy; 2012 MCRSA. All rights reserved.