For Affordable Housing, Stay Away from Boulevards

New findings published by Trulia, the real estate website, show the connection between home values and road names. "Boulevard" carries the most cache, and "street" the least, reports Lew Sichelman.

Research conducted by Trulia into the relationship between the median price per square foot of residences listed on the site and their address names reveals some interesting findings, and the potential for a nifty developer trick. "According to Trulia, an online real estate community, houses on 'boulevards' are the most expensive, selling for 36 percent more than homes located on 'streets.'" Of the 12 address designations with at least 10,000 homes for sale, "place" and "road" also earned high marks, averaging $110 and $109 a square foot respectively (compared to boulevard at $117).

"Why is "boulevard" the most expensive?" asks Sichelman. "Trulia says the word itself might have more to do with it than anything. After all, it does have something of a sophisticated French origin."

"Another factor, perhaps, is the mix of housing located on boulevards. Some 37 percent of the boulevard units were in multiunit apartment and condominium buildings, suggesting denser, urban settings where space is at a premium and housing costs are higher. By contrast, no more than 16 percent of the homes on the other paved paths were in multifamily buildings."

Full Story: A street by any other name could raise home value


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