Oregon Public Broadcasting - What’s the Value of Trees in Your Neighborhood
Trees not only have aesthetic value, they provide significant and measurable financial benefits. “A study by the U.S. Forest Service found that for every dollar the city [of Charleston, SC] spends maintaining its approximately 16,000 street trees — trees along streets, in city parks and on other city lands — it receives about $1.37 worth of benefits.” (source: City Street Trees Pay Their Way)
(The following is borrowed from the Lake Oswego Community Forestry Plan. Much more can be found in Appendix B of our Report)
Trees:
• Increase property value
• Provide shade and cooling
• Conserve energy
• Provide erosion control
• Reduce storm water run-off
• Release oxygen and filter airborne pollutants
• Reduce noise
• Provide wildlife habitat
• Enhance our connection to the natural world
• Create a sense of historical continuity
ECONOMIC BENEFITS FROM THE URBAN FOREST
Trees not only beautify streets and neighborhoods and provide wildlife habitat, they also function to increase water, air, and soil quality and provide tangible economic benefits to homeowners and commercial districts. A tree that will live 50 years is worth about $14,000 in today’s dollars for the infrastructure services it provides, without considering its effect on adjacent property values or its esthetic value.
Air Quality
Trees in the Portland Metro area remove 178 million pounds of pollutants annually, a savings valued at $419 million. Sulfur dioxide, carbon monoxide, nitrogen dioxide, ozone, and particulate matter are among the pollutants trees absorb.
Storm Water Management
Leaves and branches intercept and store rainfall, and tree roots increase capacity and rate of soil infiltration by rainfall. Trees also break the force of rain and reduce erosion. Trees thus promote groundwater recharge and improve overall watershed health and aquatic habitat. A study by the non-profit American Forests estimates that in the Portland Metropolitan area, a mature tree saves $10/year in storm water management costs, intercepting an average of 760 gallons of rainfall a year. The same study estimated that tree loss between 1972 and 2000 resulted in an increase of 963 million cubic feet of storm water flow during a peak storm event. Using a local cost estimate of $6.00/cubic foot to build storm water systems in urban areas, and $2.00/cubic foot in rural areas, this vegetation loss is equivalent in value to a $2.4 billion system.
Energy Savings
Trees shade and cool residential homes during hot summer months and reduce the amount of electricity needed to run air conditioners. Trees provide an estimated $1.86 million in annual energy savings for communities in the Portland area. Reducing energy use also reduces the amount of carbon emissions by utility companies. Direct tree shading prevents approximately 140,000 tons of carbon from being emitted into the atmosphere annually in our region.
Residential Real Estate Value
Conserving and protecting existing trees on a development property also enhances its appeal to potential buyers and increases the property’s value. According to Northwest Builder Magazine, one mature tree can add approximately $6,000 to a property’s value. Each large tree increases home value by 1% on average, and a large specimen tree can increase the home value by 10% or more.
Commercial District Appeal
Numerous studies have also shown that trees benefit commercial districts. A national study conducted by the University of Washington found that consumers are willing to drive farther to shop in tree-lined shopping districts; they rated “amenity and comfort” levels 80% higher in these areas compared to non-shaded streets. Remarkably, patrons even perceived the quality of goods to be 30% higher in districts lined with trees.
