Urban tree canopy yields numerous environmental and social benefits. This study investigates whether the marginal contribution of tree canopy cover to home values depends on certain characteristics of a property and its location. We address this using a hedonic property analysis with data from Baltimore, Maryland. Both Ordinary Least Square and Spatial Lag models were conducted, all including interaction terms between tree canopy cover and various site factors. Our results indicated that, on average, the amount of tree canopy in the 100–400 zone around a single-family property is positively associated with home price. We also find that the marginal impact of canopy on property price increases for properties that are larger in lot size and closer to downtown Baltimore. Model results were mixed in terms of the interactive effects of crime and proximity to major roadway with tree canopy. We suggest that the benefits that tree canopy provides in the form of added privacy, reduced urban heat, noise and pollution may influence these price increases. These findings may signal concerns about the potential for urban greening to contribute to gentrification. In a competitive housing market, those with the capacity to afford to pay more for urban tree canopy and the benefits it provides such as a cooler downtown environment, privacy on larger lots, or reduced noise and pollution from a major roadway may price out those who are unable to pay this urban tree canopy premium. There is, therefore, the potential for unequal increases in home equity across neighborhoods following tree planting and urban greening in Baltimore.

城市树冠产生许多环境和社会效益。本研究调查树冠覆盖对房屋价值的边际贡献是否取决于房产的某些特征及其位置。我们使用来自马里兰州巴尔的摩的数据进行享乐属性分析来解决这个问题。进行了普通最小二乘法和空间滞后模型，所有模型都包括树冠覆盖与各种场地因素之间的相互作用项。我们的结果表明，平均而言，单户住宅周围 100-400 区域内的树冠数量与房价呈正相关。我们还发现，对于地块面积较大且靠近巴尔的摩市中心的房产，天篷对房价上涨的边际影响。模型结果在犯罪和靠近有树冠的主要道路的交互作用方面是混合的。我们认为，树冠以增加隐私、减少城市热量、噪音和污染的形式提供的好处可能会影响这些价格上涨。这些发现可能表明人们担心城市绿化可能会促进高档化。在竞争激烈的住房市场中，那些有能力为城市树冠支付更多费用的人以及它提供的好处，例如更凉爽的市中心环境、更大地段的隐私，或减少主要道路的噪音和污染，可能会排斥那些购买者无法支付城市树冠保费。因此，在巴尔的摩植树和城市绿化后，各个社区的房屋净值可能会出现不平等的增长。