By Joey Brunch | The Denver Post | 5 Apr 2016
Residents who live near fracking operations might worry about the impact to their property values, but so far the data doesn’t back up that concern, according to a study released Tuesday by Ballotpedia.
The nonpartisan online encyclopedia collected data from tax assessors for seven Colorado counties (Garfield, Grand, La Plata, Larimer, Pitkin, Routt and Weld), then compared home values to well-site data from the Colorado Oil and Gas Conservation Commission and residential water sources from the Colorado Department of Natural Resources.
“This large research project found no definitive evidence that fracking negatively impacted home values and sales across seven counties in 2015,” said Kayla Harris, Ballotpedia’s energy policy analyst.
Impact on property values is among the reasons fracking opponentshave proposed ballot initiatives for November to restrict where oil and gas wells locate.
The full study is available online by clicking here.
The study looked at the seven counties individually. In Weld County, nearly 67 percent of homes studied are within 1,000 feet of an oil or gas well. Researchers examined those 26,402 homes and found a median value of $220,000. The 13,183 homes that are not within 1,000 feet of a well had a median value of $190,000.
Homes on well water within 1,000 feet of a well, overall, maintained their value, Ballotpedia found.
The study notes that the comparisons are imprecise, because so many factors influence property values.