A study on the relationship between water clarity on home prices in Vilas and Oneida counties has found a ‘clear’ link between higher water clarity and higher prices of property on those lakes.
The study was conducted by Dr. Thomas Kemp Department of Economics Chair at UW-Eau Claire. Kemp says they looked at 60 different lakes in the two counties. From there they looked at DNR water clarity data and home sales data on those lakes…
“…We were able to ascertain that homes on lakes that have a greater depth of clarity, in other words, you can see down into the water further, found significantly higher prices than on lakes with poorer clarity…”
Dr. Kemp says they were able to put dollar figures on the value of clean, clear water….
“…If you can increase water clarity from a foot to, say, four feet, about a meter, you’re looking at an increase of $20,000 on the average house, so it’s not insignificant…”
Dr. Kemp says if local property owners look at their properties as a whole, it adds up…
“…100-150 properties, that’s really a modest sized lake. If you multiply $20,000 from 100 properties and you’re talking pretty big money. The bottom line is we found in this and other studies that water clarity does impact property prices in both directions….”
Dr. Thomas Kemp will be speaking Thursday at 1 p.m. at UW-Trout Lake Station in Boulder Junction on the findings of the study. The study was authorized by Vilas County Land and Water Conservation, Oneida County Lakes and Rivers with a grant from Lumberjack Resource Conservation & Development Council.
