A recent study by realtor.com found that living near noisy amenities is reflected in lower home values. Below are the lower than median rates associated with living near certain noisemaking businesses:
- -13.2% Airport
- -12.3% Railway track
- -11.3% Highway
- -9.5% Busy Road
- -7.6% Hospital emergency room
- -5.2% Busy church
- -5.1% 24-hour supermarket
- -4.3% School
- -1.8% Fire station
I always try to be cautious with statistics because there is always missing information that is not reflected in the stats. For example, maybe cheaper homes are constructed on busier streets, leaving the “green space lots” for bigger and more expensive houses. Same could be true for near schools, supermarkets or many of the others above.
However, I’m sure there is some impact of noise pollution that is reflected in price.