The urban forest...
includes both the commonly envisioned elements of tree-lined streets, parks, conservation areas, cemeteries, and river and stream corridors, as well as areas of potential and existing green, like those found in vacant lots and school yards. Urban forest resources include vegetation, wildlife, soil, air, water, and open space. – Jean Marie Hartman & Steve Strom

Natural resources can significantly enhance the quality of urban life. The value of environmental resources to the economy and the community is well documented, however, broader environmental and resource management issues are seldom addressed and integrated into the economic policies of a community due to a lack of understanding of the social and economic value of the urban forest complex.

This study attempted to establish economic value relationships between patterns of the urban forest and residential property value. Landscape greenness for two communities in New Jersey, New Brunswick and Highland Park, was compared to house sale values over a three-year period. A LANDSAT TM-derived Normalized Differential Vegetative Index (NDVI) for the study areas was compared to house sale values, located by street address.

While correlations were weaker for New Brunswick, both municipalities proved to have a statistically significant positive correlation of house value to urban forest components. The correlation was strongest for a neighborhood average NDVI (approximately 150x150 meters) suggesting a local neighborhood or mesoscale level of urban forest-house value interaction. This result provides the basis for additional investigation of the importance of spatial pattern in urban forestry and is intended to provide information for community urban forestry policy development.