A new study, jointly produced by the American Public Transportation Association (APTA) and the National Association of Realtors (NAR), finds evidence of dramatic increases in the value of real estate located proximate to public transit.
"Property values of residential and commercial buildings increase dramatically when located close to transit, according to a joint study from the American Public Transportation Association (APTA) and the National Association of Realtors (NAR)," according to an article by Chris Teale.
Analyzing data from seven metropolitan regions (Boston; Eugene, OR; Hartford, CT; Los Angeles; Minneapolis-St. Paul; Phoenix; and Seattle),
"[t]he associations found that residential properties within a half-mile of public transit options (heavy rail, light rail, commuter rail and bus rapid transit) had a 4%-24% higher median sale price between 2012 and 2016." Similarly located commercial properties also gained value during the same time period.
Another key finding of the study pertained to the savings of residents who live near transit.
Now the question is how effective cities will be leveraging that knowledge to mitigate ongoing crises of climate change and housing affordability.
FULL STORY: Property values 'thrive' near transit, study finds
Transit Agencies Seeking Federal Help as Ridership Plummets
Two of the most transit rich regions in the United States have sounded alarms about the need for federal relief as transit ridership plummets as workers stay home or avoid public transit. The APTA is supporting the cause.
Millennials Leaving Their Mark on Suburbia
How will millennial homebuyers change suburbia, or will they? Realtors observe that millennials relocating from the city look for parts of their urban lifestyle, e.g., walkable neighborhoods, yet they also have traditional suburban tastes.
Best Practices for Outsourcing Transit Operations
Contracting with private sector vendors can help transit agencies improve efficiency and provide better service.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
EV Infrastructure Booming in Suburbs, Cities Lag Behind
A lack of access to charging infrastructure is holding back EV adoption in many US cities.
Seattle Road Safety Advocates Say Transportation Levy Perpetuates Car-Centric Status Quo
Critics of a proposed $1.3 billion transportation levy say the package isn’t enough to keep up with inflation and rising costs and fails to support a shift away from car-oriented infrastructure.
Appeals Court: California Emissions Standards Upheld
The U.S. Environmental Protection Agency and the California Air Resources Board, the nation's two most powerful environmental regulatory agencies, won an important round in federal court last week. But the emissions standards battle may not be over.
Barrett Planning Group LLC
City of Cleburne
KTUA Planning and Landscape Architecture
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
City of Laramie, Wyoming
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
