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Walkable neighborhoods command price premiums


Walkable neighborhoods command price premiums
A new study says that homes located in more walkable neighborhoods command a price premium over similar homes in less walkable areas.

The study, “Walking the Walk: How Walkability Raises Home Values in U.S. Cities” was commissioned by CEOs for Cities and conducted by Joe Cortright using data from Walk Score.

Key findings include:· In 13 out of 15 metro areas higher levels of walk-ability were directly linked to higher home values.

· In the typical metropolitan area, a one point increase in Walk Score was associated with an increase in value ranging from $500 to $3,000. Gains were larger in denser, urban areas and smaller in less dense markets.

· In the typical areas studied, the premium commanded for neighborhoods with above-average Walk Scores ranged from $4,000 to $34,000.


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