Quantifying the value of walking
Tags: ashley park, carbon, carbon emissions, ceos for cities, charlotte north carolina, cortright, home values, homes, Housing, neighborhood, walkable neighborhoods, walking, walking distance, wilmore
CEOs for Cities just released a study showing that homes located close to shops, schools, churches, offices, libraries, parks, and restaurants are worth more than similar homes in less-walkable neighborhoods.
The report, “Walking the Walk: How Walkability Raises Housing Values in U.S. Cities” by Joseph Cortright, analyzed data from 94,000 real estate transactions in 15 major markets. Cortright found that in 13 of the 15 markets, higher levels of walkability, as measured by Walk Score, correlated to higher home values.
This image from Walk Score shows the difference between how far you can walk in a compact neighborhood versus a sprawling one
