The purpose of this study is to determine the impact of intensive livestock operations (ILO’s) on surrounding rural residential property values. To this end, we have undertaken an analysis of five case study sites located within the Manitoba rural municipalities of Franklin, De Salaberry, Rhineland, Saskatchewan, Glenwood, Rockwood and St. Andrews. The case study sites coincide with the selection of five hog ILO’s varying in operational intensity from 1,120 to 3,500 animal units. Within the case study areas, data for 249 improved property sales and 223 land sale transactions, occurring between the years 1990 and 1003, were collected and analyzed. The study focussed on two primary issues; identifying the presence of an impact of ILO’s on surrounding improved residential property values, and the presence of an impact of ILO’s on surrounding land values. The analysis of house sales located within five miles of an ILO, based upon case study samples sizes ranging from 10 to 94 transactions, resulted in relatively consistent findings. Each case study, excepting case study four, indicated that house prices actually tended to be higher as distance to the ILO decreased (i.e. in closer proximity to ILO’S). In case study four, located in the Municipality of Glenwoord, an analysis f 15 house sales suggested that there was generally no change in prices, regardless of proximity to an ILO. The analysis of land sales located within five miles of an ILO, was based upon sample sizes ranging from 26 to 56. Again, the findings were consistent with the exception of one case study site; this time case study one being the exception. In case study one, located within the municipalities of Franklin and De Salaberry, the analysis indicated that prices for land generally increased as distance from ILO’s increased (i.e. a negative influence on land values due to proximity to an ILO). However, in the remaining four case study areas, the opposite relationship resulted from our analysis. In these areas, land values were found to increase, as distance to ILO’s decreased. In two of the case study areas, the highest sale prices (per acre) in the municipality were found within 1.0 to 1.5 miles of an ILO. In case studies one and found, data was also collected and analyzed with respect to the influence on prices due to proximity to a poultry ILO (case study one) and a cattle ILO (case study four). Poultry ILO’s observed in the municipality of De Salaberry had an impact on land prices, similar to hog ILO’s. For both ILO types, land prices on a peracre basis were found to increase as distance from the ILO increased. Based on 47 sales of land within five miles of a hog ILO, the average price per acre of land sold was $686; for poultry ILO’s, 10 sales of land indicated an average price per acres of $633. Unfortunately due to the location of the poultry ILO’s in the cast study area, a very small sample of improved property sales were found. Therefore, the impact of poultry ILO’s on house prices could not be observed in any meaningful fashion. Cattle ILO’s in the municipality of Glenwood were also observed in our analysis. House prices showed marginal increases as distance from the cattle ILO’s increased, whereas land sales in proximity to cattle ILO’s provided inconclusive results. Overall, the data analyzed in the case study areas fails to support the notion that the presence of hog ILO’s are detrimental to surrounding real estate values. It is entirely possible that isolated cases of properties, that have had a negative impact due to the presence of a neighbouring ILO, may be encountered. However, if examined in a “global” or market-wide perspective, real estate market activity suggests otherwise.