Abstract This study examines the effect of soil erosion on property values in Calabar Metropolis, Cross River State Nigeria. Questionnaire administration was the major source of data collection. The data gathered were analyzed and hypotheses tested. Oral interview and hypotheses tested clearly show that the problem of soil erosion in Calabar is having severe impacts on the socio-economic life and activities of the residents of the area particularly with respect to the destruction of properties, farmland, roads, displacement of people as well as the resultant psychological effect. Therefore, the study concludes that soil erosion has a negative effect on property value in Calabar Metropolis. The need for proper management techniques to be devised and further research on erosion control especially by monitoring the erodibility of the different surfaces within the area is recommended. Ecological fund, international support and tested construction companies should be sought. Areas prone to erosion should be zoned as protected areas while assistance should be given to affected communities.