A hedonic price function for homes is estimated using Asheville Housing Data. With data for 100 homes from the Buncombe County Tax Assessor, home prices in the 28804 zip code were regressed on various structural characteristics, neighborhood features, and curb appeal. It is widely understood that the curb appeal of a home affects its value, but given the subjective nature of curb appeal, a quantitative estimate of this effect is lacking. A measure of curb appeal was created by observing each individual home's landscape quality and street-side appearance and combining these observations into a single composite measure. The evaluation of homes was completed with objectivity in mind, but ultimately the curb appeal of a home is a subjective measure. It was the attempt of this research to proxy the subjective curb appeal of a home with an objective measure of the home's outward appearance and landscape quality. The impact of curb appeal on home prices is expected to be positive; those homes with a greater measure of curb appeal will tend to be valued higher. Economic agents interested in consuming or producing homes will be able to utilize this research to maximize the value of their home through improvements in curb appeal.
