The Value of a Healthy Home: Lead Paint Remediation and Housing Values

Arbeitspapier

The presence of lead paint significantly impairs cognitive and behavioral development, yet little is known about the value to households of avoiding this residence-specific environmental health risk. In this paper, we estimate the benefits of lead-paint remediation on housing prices. Using data on all homes that applied to a HUD-funded program in Charlotte, North Carolina, we adopt a difference-in-differences estimator that compares values among remediated properties with those for which an inspection does not identify a lead paint hazard. Results indicate large returns for public and private investment in remediation with each $1 spent on lead remediation generating $2.60 in benefits as well as a reduction in residential turnover.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IZA Discussion Papers ; No. 10873

Classification and Topics

• Classification: Wirtschaft ; Valuation of Environmental Effects ; Pollution Control Adoption and Costs; Distributional Effects; Employment Effects ; Environmental Economics: Government Policy ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics ; Housing Supply and Markets ; Health: Government Policy; Regulation; Public Health
• Subject: lead paint exposure ; lead hazard remediation ; value of environmental health risk ; urban environmental health

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Billings, Stephen B. ; Schnepel, Kevin T.
• Event: Veröffentlichung
• (who): Institute of Labor Economics (IZA)
• (where): Bonn
• (when): 2017

Further information

• Handle: http://hdl.handle.net/10419/170857
• Last update: 10.03.2025, 11:43 AM CET