Impact of Improved Landscape Quality and Tree Cover on the Price of Single-Family Homes

Abstract

Impacts of the quality of landscaping and percentage of tree cover on home prices were estimated from a sample of 75 home sales within the Melonie Park neighborhood in Lubbock, TX, from 2003 to 2005. Estimates were derived using a regression of house sale price on house characteristics, landscape quality, and tree cover. Homes that improved landscaping from average quality to good or excellent quality increased selling price by 5.7 and 10.8%, respectively. Approximately 30% of the increase in sale value was accounted for by added tree cover. The results show that each $1.00 invested in upgrading an average landscape to excellent quality returns $1.35 in added property value.

Purchase Motivation, Landscape Preference, and Housing Prices: Quantile Hedonic Analysis in Guangzhou, China

“…Bin and Czajkowski (2013) and Chen (2017) focused on water pollution and restoration from the perspective of landscape quality and found that an improvement in water quality was beneficial to residents and raised housing prices. Stigarll and Elam (2009) studied landscape quality in Melonie Park, Lubbock, and concluded that an improvement in landscape quality, from average quality to good and excellent, will increase housing prices by a premium of 5.7% and 10.8%, respectively.…”