New Study Shows More Walkable Homes Are Worth More

CEOs For Cities has issued new report about "How Walkability Raises Home Values in U.S. Cities".

This data is compares house value in the neighborhood with "median walkablity" Vs. "75% percentile walkability" using walkability score from www.walkscore.com. For example, in Austin Tx, the house with 75% percentile walkability (74) is $23,871 more valuable Vs. the one in median walkability (62) neighborhood.

Interestingly, in 13 out of 15 metropolitan area, more walkable homes are proven to be worth more (car dependent Las Vegas NV and Bakersfield CA was only exception).

Contribution of Walk Score to Housing Values
Metro	Median	75% Percentile	Walk Score Estimated Housing Gain from Moving to 75% Percentile
Arlington	71	82	19,028
Austin	62	74	24,871
Bakersfield	31	51	-2,242
Charlotte	54	71	33,763
Chicago	86	92	31,562
Dallas	46	51	4,278
Fresno	49	60	7,427
Jacksonville	35	51	12,951
Las Vegas	43	55	-7,157
Phoenix	46	58	18,689
Sacramento	49	62	34,345
San Francisco	57	68	32,837
Seattle	68	82	19,789
Stockton	51	10	10,338
Tucson	51	66	10,841

As I pointed out in previous blog posting about mass transit usage, I think US is slowly moving away from car-dependent suburbia to mass transit oriented walkable neighborhood.

So make sure that you check the walkscore when you purchase your new house!

Happy Investing!!!