Burien Safe Sidewalks Now

Walkability improves home value | September 15, 2009

A recent study by CEOs for Cities entitled “Walking the Walk” demonstrates that:

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….

This research makes it clear that walkability is strongly associated with higher housing values in nearly all metropolitan areas. The choice, convenience and variety of walkable neighborhoods are reflected in housing markets and are the product of consumer demand for these attributes. The nation’s urban leaders should pay close attention to walkability as a key measure of urban vitality and as impetus for public policy that will increase overall property values – a key source of individual wealth and of revenues for cash-strapped governments in a tough economy.

This further shows how everyone in Burien benefits when our city becomes more walkable, not just those who will directly use the pedestrian and bicycle facilities created by the Transportation Benefit District.  Walkable communities are livable, sustainable, desirable communities!

Hat tip to City Parks Blog.

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