A Redfin analysis reveals the U.S. metro area where access to transit translates most directly to property value.
A recent study by Redfin, which analyzed the sale prices and Transit Score ratings of more than one million homes sold between January 2014 and April 2016, finding "that one Transit ScoreⓇ point can increase the price of a home by an average of $2,040 or 0.6%."
Builder shares the news of the study, which analyzed home sale data from 14 metro areas. From among those 14 metro areas, one city emerged as the leader in Transit Score-induced home value: Atlanta. "There, one Transit Score point is worth $1,901, or 1.13%, on average," according to the article. "After Atlanta, a point of Transit Score carries the highest value in Boston (1.10%) and Washington, D.C. (0.96%)."
FULL STORY: Redfin Values Proximity to Transit
The Best Cities for Public Transit
Redfin released its updated transit scores for 2019 and, while there’s little change in the ranking, cities like D.C. and New York did see changes in their scores.
The Best Cities for Transit
Redfin's most recent ranking of public transit access features some serious moves, both up and down the list.
More Evidence for a Link Between Transit and Home Values
Judging from a statistical analysis by Redfin, there is in fact a positive correlation between home values and transit access. But that only applies in areas where transit and walking are already common modes.
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