Author: Chen Huo, Thomas G. Thibodeau and Ron Throupe
This paper analyzes the effect of a major airport closure on house prices. Because of the unique history and proximity to housing, the closure of the Stapleton International Airport in Denver CO allows for the study of house prices before and after the closure of the facility. We study these effects using a combination of hedonic pricing models and the geographic location of noise contours for airport sound levels. The results show price discounts prior to closure, typical of other studies. Discounts vanish in one city but remain in another after closure.