Market studies in four major U.S. cities showed no impact residential property values resulting from the deployment of a cell tower, according to Valbridge Property Advisors, an independent commercial property valuation firm. The studies were conducted in Phoenix, Arizona; Raleigh, North Carolina; Dallas, Texas; and Boston, Massachusetts by Valbridge at the request of T-Mobile.
“We studied the impact cell towers have on property values, and our appraisals indicated there was no statistically significant impact. A majority of the property values in neighborhoods with cell towers are in line with a majority of the property values in areas without cell towers,” said Karl Finkelstein, VP marketing and business development for Valbridge Property Advisors.
The studies were conducted in multiple sub-areas of each city, which were then compiled to produce measurable results. Home sale values demonstrated no measurable difference for those homes within a 0.25-mile radius sphere of influence of the cell tower and those homes in a 0.50-1.0 mile radius outside of the cell tower sphere of influence. In many of the sub-areas, home prices increased nominally. No measurable difference is defined as a less than 1 percent difference; nominal difference is defined as 1 percent to 3 percent.
To prepare the sub-area studies, the center points of each sub-area’s primarily single-family residential areas or specific subdivisions were identified by latitude and longitude. Single-family residential sales with both a qualified buyer and a qualified seller from the first quarter 2015 through first quarter 2018 were located and verified to assess the transactions.