Does Water Quality Affect Lakeshore Property Values?
How is the value of a lake lot decided? Are there qualities of the lake water that make one parcel of land more desirable than another? If the lake is clean and clear are the values of the adjoining properties increased? In the summer of 2002, the Mississippi Headwaters Board tried to answer these questions. They commissioned a study to conduct research that would determine if water quality of Minnesota lakes affects lakeshore property values. Similar studies had been conducted in Maine. These studies showed that water clarity, a measure of water quality, did have a significant affect on lakeshore property prices, around Maine lakes. Is this same fact true in Minnesota? How was the study done? Researchers at Bemidji State University were hired to conduct the study. In the Mississippi Headwaters area, 37 lakes were selected. Lakes were chosen to represent a diversity of size, spatial and political representation in the region. The lakes also had monitoring data available from the MPCA.
