Two assistant professors from the University of Chicago and BYU have found that the addition of a Wal-Mart store in a neighborhood can raise the value of homes within a mile of the store, reports Mary Ellen Podmolik.
Brothers Devin and Jaren Pope, who are assistant professors at the University of Chicago's Booth School of Business and Brigham Young University respectively, were researching "the effect of cell towers, airports and steel mills on property values" when they decided to extend their analysis to the effect of Wal-Mart stores on property values. Mary Ellen Podmolik reports on their newly published findings, "that values increase an average of 2 to 3 percent for homes within half a mile of a Wal-Mart store and 1 to 2 percent when the home is a half mile to 1 mile from a store."
Even though Wal-Mart tends to be charged with hurting small businesses and the local community, Devin Pope says, "...what's nice about looking at housing values is that housing values reflect the positive and the negative of what a Wal-Mart can bring. It gives a nice way of looking at the net effect of Wal-Mart."
"‘On average, the benefits to quick and easy access to the lower retail prices offered by Wal-Mart and shopping at these other stores appear to matter more to households than any increase in crime, traffic and congestion, noise and light pollution or other negative externalities that would be capitalized into housing prices,' the professors wrote."
Thanks to Akemi Leung
FULL STORY: The Wal-Mart effect on homes

Rethinking Redlining
For decades we have blamed 100-year-old maps for the patterns of spatial racial inequity that persist in American cities today. An esteemed researcher says: we’ve got it all wrong.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Walmart Announces Nationwide EV Charging Network
The company plans to install electric car chargers at most of its stores by 2030.

EPA Awards $267 Million to Clean Up and Reuse Contaminated Sites
The EPA is investing the funds to clean up and redevelop contaminated sites nationwide, supporting economic growth, community revitalization, and environmental restoration.

Knoxville Dedicates $1M to New Greenway
The proposed greenway would run along North Broadway and connect to 125 miles of existing trails.

Philadelphia Launches ‘Speed Slots’ Traffic Calming Pilot
The project focuses on a 1.4-mile stretch of Lincoln Drive where cars frequently drive above the posted speed limit.
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.
City of Moorpark
City of Tustin
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions