Tag Archives: walkability

Walkability raises housing value by $4,000 – $34,000

Can you walk to stores, schools and a park from your home? If so, your house or condo may be worth substantially more than those in more isolated, pedestrian-hostile neighborhoods.

That’s the finding of “Walking the Walk: How Walkability Raises Housing Values in U.S. Cities,” a study by Joseph Cortright that analyzed data from 94,000 real estate transactions in 15 major markets provided by ZipRealty and found that in 13 of the 15 markets, higher levels of walkability, as measured by Walk Score, were directly linked to higher home value.

The report found, in short, that walkability is more than just a pleasant amenity. 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.

via Designing Healthy Communities

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Toronto – “a strong latent demand for more walkable neighborhoods”

The map above shows Toronto’s walkability, with the lighter portions indicating greater walkability (‘utilitarian walkability” being how easy it is to walk to do utilitarian things — get to work, shop — as opposed to for pure recreation).

It’s striking how much high walkability follows the boundaries of the old City of Toronto. There are a couple of additional areas of high walkability in two of the areas designated by the official plan as “centres”, in North York and Etobicoke, which reinforces the finding of a recent study that the “centres” concept is working to some extent.

“People who live in highly walkable areas walk more and are less likely to be in danger of obesity than those in car-oriented areas.”

“There is a strong latent demand among Toronto residents for more walkable features in their neighbourhoods.”

The report finds that even people who are car-oriented will walk more if they live in a walkable neighbourhood — and people who are walking-oriented will walk less if they live in a car-oriented neighbourhood. So urban design does play a role in shaping people’s behaviours, whatever their preferences are.

via Spacing Toronto