The Noises That Could Cost You Property Value
There are nine noise disturbances that can reduce property values according to an article published in Realtor Magazine. A data team analyzed specific noise factors including type of noise, distance from the noise source and the median price of homes in that ZIP code. Average percentage discounts are reported next to each noise source. Here are the results:
1. Airport (within 2 miles) 13.2% (average discount)
2. Railway track (within 0.1 mile) 12.3%
3. Highway (within 0.1 mile) 11.3%
4. Busy Road (within 0.1 mile) 9.5%
5. Hospital Emergency Room (within 0.5 mile) 7.6%
6. Busy Church (with weekly attendance of 2,000 or more and within 0.5 mile) 5.2%
7. 24-hour supermarket (within 0.1 mile) 5.1%
8. School (within 0.1 mile) 4.3%
9. Fire Station (within 0.1 mile) 1.8%
