The following article was originally published in LifeZette, and was written by Pat Barone on September 2, 2016. You can read the entire piece here.
… Their research found that an increase in walkability score from 60 to 80 in San Francisco increased a comparable home’s value by $187,630 — in Phoenix, the same increased walkability only added $15,700.
But it does matter where the walking leads, according to Richard Murdocco, a real estate expert based in New York City.
“Walkability means nothing if there isn’t a healthy mix of uses — commercial, retail, schools, or recreational areas like parks — to walk to,” Murdocco said. “Often, builders tout walkability without saying what exactly residents would be walking to. If a train station or transit hub, linking to a regional hub for jobs, is within walking distance, that will likely drive housing prices and desirability.”
