Gun‐ownership disclosure and localized home prices

Abstract

This article examines how the disclosure of local gun‐ownership information affects property values. Using the sudden disclosure of a gun‐ownership map in two New York counties, we explore how home sellers respond to this exogenous information shock. Our results show that an additional permit holder in the neighborhood leads to a 1% decrease in housing prices after the disclosure. This effect is highly localized in that property values are only negatively impacted by gun‐permit holders within 0.1 mi of the focal property. These findings highlight the negative effect of the disclosure of gun‐ownership information on localized home prices.