The impact of Superfund sites on local property values: Are all sites the same?

It is generally assumed that all Superfund sites negatively impact property values, that the impact is similar for all sites, and that the impact disappears once the site has been cleaned. This paper examines several Superfund sites across the US and finds that some have the expected impact, while others have either no impact or a positive impact on local property values. The effect does not necessarily disappear for sites that have been cleaned. Using a meta-analysis approach to examine what factors contribute to a decrease in property values, we find that larger sites in areas with fewer blue-collar workers are more likely to have a negative impact. (c) 2006 Elsevier Inc. All rights reserved.