The Effect of Freight Railroad Tracks and Train Activity on Residential Property Values‪.‬

abstract This study evaluates the impact of freight railroad tracks on housing markets. A hedonic price model is used to estimate reduction in the sale price of residential properties near freight railroad tracks in Cuyahoga County, Ohio for 1996 and 1999. The findings indicate an average loss in value between $3,800 and $5,800 (5%-7%) for houses under 1,250 square feet located within 750 feet from a railroad track. Larger houses showed mixed results. After substantial publicity about a freight train company merger, freight trip counts showed a negative and statistically significant impact on the sale price of smaller houses, and some larger houses, for each additional daily freight train trip.