Amenity values of proximity to National Wildlife Refuges: An analysis of urban residential property values

- We quantify the residential property value benefits of proximity to National Wildlife Refuges.
- Confidential U.S. Census data is used to identify refuge property value benefits on a regional scale.
- The focus of the analysis is on refuges located near urbanized areas.
- Estimated property value benefits average $11 million and are as high as $50 million per refuge.
- Benefits are highly concentrated to just those homes within 0.5 mi of a refuge boundary.

This research quantifies the property value benefits of National Wildlife Refuges near urban areas on the eastern coast of the U.S.A. Our approach is made possible through access to confidential U.S. Census data identifying property values surrounding all refuges with high geographic resolution. Results from hedonic property value models suggest that the amenity values of refuges located near urbanized areas are capitalized into the value of homes in very close proximity, averaging $11 million per refuge. These capitalized values add directly to the local tax base and are considerable complements to the annual economic value created by the refuge system.