Does Walkability Equal Value?

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On average, all properties surveyed had higher values per square foot in walkable urban places than in low-density drivable locations.

The Center for Real Estate and Urban Analysis at the George Washington University reports that Metro Boston is on its way to being one of the most walkable metro areas in the country. The report outlines how walkable urbanism adds value. On average, all of the product types studied, including office, retail, hotel, rental apartments, and for-sale housing, have higher values per square foot in walkable urban places than in low-density drivable locations. These price premiums of 20 to 134 percent per square foot are strong indicators of pent-up demand for walkable urbanism.

 

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