Hedonic analyses of urban green spaces and urban tree cover in Syracuse, NY

I investigated how residents value green spaces and tree cover in Syracuse, NY. I constructed a hedonic model of single-family residential property price using structural, neighborhood, and environmental variables. Results indicated that close proximity to natural areas was associated with higher sale price, whereas close proximity to community parks, golf courses, neighborhood parks, and open space/cemeteries was associated with lower sale prices. The model also revealed that increasing percent tree cover had a negative impact on sale price within a 25 m buffer around the parcel, though it had a positive impact past this threshold. An information-theoretic model analysis revealed that environmental variables explain some of the variation in sale price not explained by the structural variables. Tree planting scenario analysis indicated that tree plantings in vacant properties would have a significant impact on residential sale price. Submarket analyses revealed the possible existence of market segmentation by per capita income.;Key Words: Urban green spaces; Urban tree cover; Hedonic model; Submarket analysis.