Better Walkability, Higher Value
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.