THE PRICE AN INDIVIDUAL IS WILLING TO PAY FOR A HOUSE DEPENDS ON STRUCTURAL AND NEIGHBORHOOD CHARACTERISTICS. USING THE CONCEPT OF HEDONIC PRICE INDEXES, INFERENCES CAN BE MADE ABOUT WHAT INCREMENTAL EFFECT ONE ATTRIBUTE, SUCH AS THE NUMBER OF BATHROOMS IN A HOUSE, HAS ON THE FINAL SELLING PRICE. DATA WERE OBTAINED FROM THE ROCHESTER, N.Y., POLICE DEPARTMENT IN 1971 TO ANALYZE MEASURES OF CRIME (TOTAL OFFENSES, PROPERTY CRIMES, CRIMES AGAINST PERSONS, AND PROPERTY CRIMES COMMITTED IN OR AROUND HOMES). A COMPUTER TAPE WAS AVAILABLE THAT CONTAINED ALL MISDEMEANOR AND FELONY OFFENSES REPORTED TO THE POLICE DURING THE YEAR IN QUESTION. INFORMATION WAS ALSO GATHERED FROM A STUDY OF ZONING AND EXTERNALITIES AND THE PRICE OF LAND IN MONROE COUNTY, N.Y. THE DEPENDENT VARIABLE IN THE COUNTY STUDY WAS PRICE OF LAND PER ACRE, AND THE INDEPENDENT VARIABLE WAS THE EQUALIZED ASSESSED VALUE OF A STRUCTURE (ESTIMATED BY MULTIPLYING THE RATIO OF AVERAGE ASSESSED VALUE TO AVERAGE MARKET VALUE). DATA FROM THE COUNTY STUDY FOR ANALYZING CRIME CONTROL IN ROCHESTER INVOLVED A RANDOM SAMPLE OF 398 ONE-FAMILY HOUSES SOLD DURING 1971. PROPERTY WAS VISITED TO ASCERTAIN LAND USE ON THE PARCEL, LAND USE ON ADJACENT PARCELS, LAND USES OR ACTIVITIES WITHIN SIGHT OF THE PARCEL, UNUSUAL GEOGRAPHIC CHARACTERISTICS OR ACTIVITIES, CONDITION OF STRUCTURE, CORNER PROPERTY, NEW STRUCTURES, AND CENSUS TRACT AND BLOCK NUMBER. THE FINDINGS SHOW THAT CRIME HAS A STATISTICALLY SIGNIFICANT NEGATIVE IMPACT ON PROPERTY VALUES. THE MAGNITUDE OF THIS IMPACT APPEARS TO BE CONSISTENT WITH INTUITIVE EXPECTATIONS. CAUTION IS RECOMMENDED IN APPLYING ESTIMATES OF CRIME CONTROL AND THE PROPERTY MARKET IN ROCHESTER TO OTHER JURISDICTIONS. SUPPORTING EQUATIONS AND DATA ARE PROVIDED. A LIST OF REFERENCES IS INCLUDED. (DEP)