Better Walkability, Higher Value

A recent study finds a correlation between a neighborhood's walkability and its home values.
August 18, 2009, 2pm PDT | Nate Berg
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Using the Walkscore rating system, the study measured walkability and home values in 15 different housing markets.

"The study, "Walking the Walk," was commissioned by CEOs for Cities, a group that promotes sustainable cities. The study focused on about 90,000 recent home sales in 15 markets, finding a positive correlation between home values and walkability in all but two -- Las Vegas and Bakersfield, Calif.

The Walk Score algorithm calculates a property's proximity to restaurants, coffee shops, schools, parks, stores and other amenities, assigning a score from zero to 100 depending on how many are within walking distance. A Walk Score of 70 or above indicates neighborhoods where it's possible to get by without a car."

Thanks to Curbed L.A.

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Published on Tuesday, August 18, 2009 in Inman News
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