Residents of many cities are getting away from driving and moving towards walking and public transit. What does that mean for property values?
Planetizen analyzed single-family home sale transactions in Austin, Texas, between 2010 and 2012 and found that a 1 percent increase in walkability and a 1 percent increase in sidewalk density resulted in a $1,329 and $785 increase, respectively, in property values in the most walkable neighborhoods.
Investing in pedestrian infrastructure also increased the value of homes in somewhat walkable and very walkable neighborhoods, as well. The improvements did not make a difference in car-dependent neighborhoods.
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