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. More info
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