CHICAGO – Jan. 20, 2017 – Airplanes buzzing overhead, trains roaring by, or that bustling 24-hour supermarket can all take a toll on property values. But by how much?
Realtor.com analyzed nine major noise factors and then calculated the price difference between homes within a specific radius of the source. It then factored in the median price of homes in that ZIP code to gauge which noises make buyers most jittery. (Note: Noisy neighbors couldn’t be quantified in the study, but they can obviously have a big impact too.)
The study found that airports are the worst offender. Sellers within a 2-mile radius of an airport likely will see a 13.2 percent hit to their sales price, the study said. Railway tracks are close behind, decreasing a home’s sales price by 12.3 percent.
How certain noise disturbances chip away at property values
Airport (within 2 miles): 13.2% (average discount)
Railway track (within 0.1 mile): 12.3%
Highway (within 0.1 mile): 11.3%
Busy road (within 0.1 mile): 9.5%
Hospital emergency room (within 0.5 mile): 7.6%
Busy church (with weekly attendance of 2,000 or more and within 0.5 mile): 5.2%
24-hour supermarket (within 0.1 mile): 5.1%
Source: “Decibel Hell: The Ear-Splitting Things That Will Disturb Your Home’s Value,” realtor.com® (Jan. 19, 2017)
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