A Comparative Analysis of Lakeshore Property Values in the Brainerd Lakes Area

This project takes an in-depth look at the environmental variables of freshwater lakes and how these variables affect the land value of lakeshore property. A GIS-based spatial and statistical analysis applied to lakeshore data from Crow Wing and Cass county Minnesota, provided the information necessary to establish general correlations applicable to Midwestern lakeshore property. The sample set includes: the Whitefish Chain, Pelican Lake, and Gull Lake. The environmental variables of these lakes can be divided into two groups; those that pertain to lakeshore parcels and those that pertain to the lakes. The parcel variables include: square footage, deeded acres, perimeter length, lakeshore frontage, accessible acres of water, and 2009 countyestimated land value. The variables of the lakes include: acreage, length of shoreline, littoral acreage, number of public accesses, water clarity, maximum depth, and median depth. The relationship between the environmental variables and the land value of lakeshore property is illustrated through correlations, multiple regression, and a Hedonic Value Analysis.