In a study of Minneapolis it was found that the elasticity of house values with respect to a NEF is -0.58. A NEF is a measure of aircraft noise related to human hearing and discomfort. This means that an
increase of NEFs of 5.8% produces a decrease in housing values of 1%
increase of NEFs of 1% produces an increase in housing values of 5.8%
increase of NEFs of 0.58% produces a decrease in housing values of 0.58%
increase of NEF of 1% produces an increase in housing values of 0.58%
increase of NEFs of 0.1% produces a decrease in housing values of 0.58%
increase in NEFs of 1% produces a decrease in housing values of 0.58%