Light Rail Brings Housing Values Up in Denver

While home values in the rest of the region decline, homes near Denver's light rail system have experienced an increase in values over the past two years.
November 3, 2008, 6am PST | Nate Berg
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"Homes near light-rail stations along the southeast line, which opened in November 2006, have increased by an average of nearly 4 percent over the past two years, according to an analysis by Your Castle Real Estate. But the rest of the Denver market declined an average of 7.5 percent."

"The closer a home is to the station, the more its value increases, according to the Your Castle analysis. Homes less than a half-mile from a station increased an average of 17.6 percent, while those 1 1/2 to 2 miles away increased just 0.1 percent on average. The data varied widely among stations, however."

"Under its FasTracks program, the Regional Transportation District plans to create six new commuter-rail and light-rail corridors and extend three existing corridors by 2017, potentially creating other pockets where values are driven by proximity to rail."

"In other markets with rail lines, single-family home values have increased anywhere from 2 percent in San Diego to 32 percent in St. Louis, according to data gathered by the Regional Transit District."

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Published on Wednesday, October 29, 2008 in The Denver Post
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