Billboards Decrease the Value of Nearby Property

A new report focusing on the City of Philadelphia found that there is a statistically significant correlation between real estate value (as measured by sales price) and proximity to billboards.

Urban planner Jonathan Snyder, author of the study, found that "[u]sing 2010 sale price data, and taking into account adjacent amenities such as libraries and parks, residential real estate within 500 feet of a billboard is $30,826 less valuable (p=.035) at the time of purchase."

Furthermore, "Billboards negatively impact home values. For each additional billboard in a census tract, there is a $947 decrease in home value."

Scenic America notes that the report concludes "...that cities with stricter billboard controls have greater median incomes, lower poverty rates and lower home vacancy rates than city with less strict billboard controls."

Full Story: New study shows billboards hurt nearby property values

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Red necktie with map of Boston

For dads and grads: tie one on to celebrate your city!

Choose from over 20 styles imprinted with detailed city or transit maps.
$44.95
T-shirt with map of Chicago

Show your city pride

Men's Ultrasoft CityFabric© tees. Six cities available.
$23.00
Book cover of the Guide to Graduate Planning Programs 4th Edition

Thinking about Grad School?

New! 4th Edition of the Planetizen Guide to Graduate Urban Planning Programs just released.
Starting at $24.95