The hedonic output offered evidence that wildfires provided a negative impact to property values within 10 KM from a burned area. For homes located within 5 KM from a burned area, a 13.7% ($33,232) diminution in value was observed as compared to unimpaired homes. This damage estimate decreased to 7.6% ($18,924) for homes located within 5 to 10 KM from a burned area. Furthermore, the binary variable for view of a burned area revealed an additional $6,600 diminution.

  •  04/01/2022 10:04 PM