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Walkability Increases Home Values

October 12, 2011

Homes in more walkable neighborhoods are worth more than similar homes in less walkable neighborhoods, according to an analysis from CEOs for Cities.  The report, prepared by Joseph Cortwright, is called “Walking the Walk: How Walkability Raises Housing Values in U.S. Cities.”

According to Cortwright’s findings, houses with above-average levels of walkability command a premium of about $4,000 to $34,000 over houses with just average levels of walkability in the typical metropolitan areas studied.  Scores measure the number of typical consumer destinations within walking distance of a house, with scores ranging from 0 (car dependent) to 100 (most walkable).  Walk scores above 70 indicate neighborhoods where one can get by without a car.

If you would like to know the score for your home, just ask me!

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