HOUSINGNEWS REPORT
FEATURED ARTICLE
2016 Environmental Hazard Housing Risk by Zip
Risk Index
0%
250%
Click on map to view interactive nationwide heat map
investment than owners in areas with clean-up areas — 24 percent versus 21 percent. Fifth — the big take-away — despite the averages there are a number of cases where home values in ZIP codes with Superfund sites have substantially out- performed areas without such sites. For instance, home value increases in areas with a Very High ratio of Superfund sites include Pittsburgh (home values up 260 percent over the last 10 years), Nashville (146.7 percent), Oklahoma City (121.2 percent), Baltimore (120.8 percent), and Houston (117.6 percent). Beware of Generalities The great oddity of Superfund sites and their military counterparts, the FUDS, is that each is absolutely unique.
The great oddity of Superfund sites and their military counterparts, the FUDS, is that each is absolutely unique. Presumptions about value and potential based simply on labels can be extremely misleading.”
What The Numbers Say Research from ATTOM Data Solutions divided ZIP codes into four categories of risk based on the presence and prevalence of Superfund sites: Very Low Risk areas with no active Superfund sites. The ZIP codes with active Superfund sites were divided into “Moderate”, “High” and “Very High” categories. The level of risk among the three categories is based on the ratio of Superfund sites to homes in the ZIP code.
First, home values in ZIP codes with Superfund sites are consistently lower than in ZIP codes without Superfunds. Second, home price appreciation — particularly over the longer term (10 years) — is weaker in ZIP codes with Superfund sites than in ZIP codes without. Third, home prices even in the Very High risk ZIP codes have risen 38 percent on average over the past five years.
If we look at home appreciation results some surprising numbers show up.
Fourth, homeowners in Superfund-free sites generally saw a stronger return on
ATTOM Data Solutions • P2
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