Documentation in the articles linked below show up to a 20% drop in value can occur for a property with a cell tower on or near the property.
Industry research indicates that over 90% of home buyers and renters are less interested in properties near cell towers and would pay less for a property with a cell tower nearby.
Certain states specifically list cell towers and antenna on the sellers disclosure forms.
“Cell Tower Antennas Problematic for Buyers” published in REALTOR® Magazine:
prepared by Burgoyne Appraisal Company, March 7, 2017
“In 32 years of experience as a Real Estate Appraiser specializing in detrimental conditions, takings, adverse impacts and right-of-way, I have found that aesthetics (or rather the adverse impact on aesthetics) of externalities routinely has the largest impact on property values. As a result, proximity to towers of all types (cell, wind turbine, and electric transmission) has an impact on property values. The same is true with all sorts of surface installations such as pump stations and communication equipment boxes. This would apply to new small cell and DAS equipment, although again, one would expect that the less intrusive the facility, the less significant the impact. Small cell and DAS installations can be unsightly, bulky, inconsistent, and even noisy.”
Highlights from this letter include:
“A coalition of real estate groups, including NAR, the National Multifamily Housing Council, the National Apartment Association, and the Institute of Real Estate Management, among others, submitted a letter to the FCC expressing concern over its proposed rule regarding over-the-air reception devices. The coalition says the rule could make it easier for antennas and other devices to be placed on properties without the owners’ consent. The coalition flagged these two potential issues:
Journal of Real Estate Finance & Economics, May 2018 found that properties that were in the visibility range or a cell tower declined in value nearly 10%
Most of what the info below was gathered and organized by the non-profit organization Environmental Health Trust. Please visit their website for even more details and resources on 5G, wireless technology and impact on property values.