Are Home Values Affected by Sinkhole Proximity? Results of a Hedonic Price Model
With its limestone bedrock, warm climate and high precipitation levels, Florida provides near-ideal conditions for sinkhole development. Additional contributing factors in certain areas include high I rates of urbanization and overpumping of groundwater to meet agricultural demand. While sinkholes can be found throughout Florida, distribution is not even across the state, with the highest concentrations occurring in the west-central region, to the north and east of Tampa Bay (USGS, 1999).