Previous hedonic studies have shown the positive contribution of forests to neighboring property values. However, they failed to address the differences in the economic contribution resulting from the changes in forest management practices. This study estimates the contribution of forests and forest management to property values around McDonald-Dunn Research Forest near Corvallis, OR. We investigated the economic effects of proximity to the forest, different forest conditions, and management schemes to neighboring property values using a geographic information system. Proximity to the forest has a positive contribution to property values; this relationship is even stronger for houses closer to the forest. Forest attributes also affect property values. The sales price is lower for property from which clear-cut sites are visible at the time of purchase if all other characteristics of the house are identical.
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Kim et al. (2002) studied this question.
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