It’s no secret that people like walkable neighborhoods. There are a number of recent surveys, articles, and research studies that contribute to the growing body of evidence for this preference. As reported in this Good Magazine article, a survey conducted by the National Association of Realtors found that factors that contribute to walkability have become a high priority in determining where to live. Also, a Brookings study found that walkable neighborhoods in and around Washington, D.C. fare better economically than those with poor walkability. Transportation costs for those living in walkable communities are lower, while housing values are higher. The Demand Institute, a New York City-based nonprofit, published a report on the “shifting nature of U.S. housing demand,” which found that housing in “resilient walkable” communities saw a smaller decrease in home price than the national average during the recession. In fact, the Institute expects prices in these areas to rise by an average of 5% a year by 2014.
The preference for walkability appears to be a national trend. A recent article from the Minneapolis Star-Tribune reports that walkability is an important factor for the current generation of first-time home buyers. Click on the link below to read the article.
