Earlier this winter, the New York Times ran an article on a CEO’s for Cities study revealing a substantial premium on home sale prices in areas with an above average Walkscore, the informative, if simplistic online measurement tool that ranks neighborhood “walkability” based on proximity to community services and amenities. According to the study, for every additional Walkscore point a neighborhood earns, home prices increase by $700 and $3,000. On average, highly walkable homes sold for $4,000 to $38,000 more than their auto-centric competition.
This past weekend, I attempted to use Walkscore in conjunction with Zillow.com to (at least loosely) confirm the study’s findings for Montgomery County. While zip-code data gave a soft nod in the affirmative, I couldn’t find data … Continue reading