Engineering360: "Researchers: Hydraulic Fracturing Boosts Local Economies"

"....Exploiting geological variation within shale deposits and timing in the initiation of hydraulic fracturing, this paper finds that allowing fracing leads to sharp increases in oil and gas recovery and improvements in a wide set of economic indicators. At the same time, estimated willingness-to-pay (WTP) for the decrease in local amenities (e.g., crime and noise) is roughly equal to -$1000 to -$1,600 per household annually (-1.9% to -3.1% of mean household in-come). Overall, we estimate that WTP for allowing fracing equals about $1,300 to $1,900 per household annually (2.5% to 3.7%), although there is substantial heterogeneity across shale regions...."

'Crime and noise'? Why is there increased crime associated with fracking?

Personally I would be more concerned with risks to water quality. Perceived effects or risks to water and air quality could certainly effect housing prices as well.

Interestingly this paper calculated the cost from ground air and water polution by looking at housing values. I'm not sure if this is smug, audacious or naive. If pollution is occuring now in soil and water, it is not immediately realized, certainly not in housing prices especially in a market trying to keep up with suddenly increased housing demand.

Ignoring the delay and likely significant mismatch is essentially disregarding the cost of potential environmental damage. Environmental accidents aren't guaranteed at every site. Hopefully far from it. But accidents will happen and the cost modified by the risk should be included in the calculation.

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This study has the appearance of knowing the conclusion from the very outset.