Implicit markets capture compensation for intraurban and interregional differe nces in amenities and yield differences in housing prices and wages. These pecuniary differences become preference-based weights in a qual ity-of-life index. Hedonic equations are estimated using microdata fr om the 1980 Census and assembled county-based amenity data on climati c, environmental, and urban conditions. Ranking of 253 urban counties reveals substantial variation within, as well as among, the 185 urba n areas. The quality-of-life differences across counties within one S MSA is almost one-half of the difference between the top- and bottom- ranked counties in the nation. Copyright 1988 by American Economic Association.
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