The Effect of Noise on House Prices

Abstract: The purpose of this study is to examine the effects of noise level on house prices of the area near the Atlanta Airport. We find that noise level and house prices are negatively related. The results indicate that house prices discount $10,505.45 for noise level at 40 after controlling for size of house, age of the house, and number of months old from the first house sale in sample. This evidence is consistent with earlier empirical findings.