“When Waterways are Polluted Property Values Decline,” SLR/IRL

Economic Impacts
Economic Impacts of polluted water. (EF)

Just last year, Florida Realtors, “The Voice for Real Estate in Florida,” published a final report on the impacts of water quality on Florida’s home values. “March 2015 Final Report.”

The first page of the executive summary states:

“There has long been a belief that there is a connection between home values and the quality and clarity of Florida waterways. The objective of this study was to determine whether that belief is in fact true.

We examined the impact of water quality and clarity on the sale prices of homes in Martin and Lee counties over a four-year period, from 2010-2013. What was clearly found was that the ongoing problem of polluted water in the Caloosahatchee and St Lucie rivers has indeed resulted in a negative impact on home values.

In addition, the study found a significant economic impacts resulting from improved water quality and clarity. Lee County’s aggregate property values increase by an estimated $541 million while Marin County’s aggregate property values increase by an estimated $428 million. These increased property values also provide additional revenue for city and county governments.”

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Unfortunately this report, very much like the University of Florida  Report, was basically ignored by the South Florida Water Management District and the state legislature when speakers came before them last year using this document and asking for relief.

As we enter yet another long summer of water pollution, may we re-familiarize ourselves with this report; we are going need to reference it again. Even though this is certainly “common sense,” it helps to have the formal report in hand when speaking.

Here is the full document for your reference. Reading through you will see the story of Lake Okeechobee’s worsening polluting discharges and our property values’ decline.

Full report here: http://www.sccf.org/files/content/docs/FR_WaterQuality_Final_Mar2015.pdf

2 thoughts on ““When Waterways are Polluted Property Values Decline,” SLR/IRL

  1. Jacqui ~
    Where can we get a copy of the graphic in this article? I could not find it in the PDF of the Florida Realtor’s report. Thanks.

    Like

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