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.
Read the 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.
New tax cuts may slash $1.5 billion in funding for Miami transit, public parks
Amendment 3 will save Miami-Dade homeowners $2,700 in 2028.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
Housing is the top priority of Seattle’s sole new councilmember
Jenks campaigned on building 1,000 new units of affordable housing.
New tax cuts may slash $1.5 billion in funding for Miami transit, public parks
Amendment 3 will save Miami-Dade homeowners $2,700 in 2028.
Arizona, Wisconsin, Pennsylvania hope to finally advance climate goals post-midterms
The three states have spent years under Republican or divided control.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
University of Michigan School for Environment and Sustainability (SEAS)
Hunter College, City University of New York (CUNY)
The Architects Foundation
City of Cambridge
Montrose County
The Pocatello Development Authority