Those long walks around the neighborhood are good for the mind, good for body… and apparently good for your house’s bottom line.

At least that’s what’s been reported in a recent study done by city-planning thinktank CEOs for Cities, which measured the correlation between home values and “walkability” in various neighborhoods.

The study looked at more than 90,000 recent home sales from 15 different metropolitan areas, and gave each a “Walk Score”—how many destinations like work, schools, parks, services, and shopping are located within a short distance of that home, and how much families valued that access. In 13 of the 15 cities, the study found, increases in home sale prices could be directly connected to each neighborhood’s pedestrian friendliness.

The results are illuminating:

“More than just a pleasant amenity, the walkability of cities translates directly into increases in home values. Homes located in more walkable neighborhoods—those with a mix of common daily shopping and social destinations within a short distance—command a price premium over otherwise similar homes in less walkable areas. Houses with the above- average levels of walkability command a premium of about $4,000 to $34,000 over houses with just average levels of walkability in the typical metropolitan areas studied.

[...] After controlling for all of these other factors that are known to influence housing value, our study showed a positive correlation between walkability and housing prices in 13 of the 15 housing markets we studied. In the typical market, an additional one point increase in Walk Score was associated with between a $700 and $3,000 increase in home values.”

The added value makes sense. Walkable neighborhoods tend to have a more healthy, vibrant, interconnected community feel. Safety breeds trust. Trust breeds relationships. Relationships breed a sense of place and community, create memories, and boost the attachment families have to their neighborhoods. All this, of course, also boosts home values across the board.

To achieve this, streetscape elements like street signage and attractive street lighting are key. Our products minimize vehicle traffic by getting drivers where they need to go more efficiently (and safely), and make walkable paths and spaces more inviting and easier to locate for pedestrians. At Brandon Industries, we make it easy for families to get out, get fit, and get friendly.

Contact our Streetscape Experts for more information about how to boost your community’s Walk Score.