Walkability in a home’s location may increase the sale-ability of the home. Walkable urban areas are showing signs of becoming the strongest housing market.
The real estate website feature “Walk Score” lets buyers know how close each home listed is to shops, restaurants, and community parks.
Market reports show that home values in walkable neighborhoods are greater than in the car dependent suburbs. On average, a home in a highly walkable neighborhood can bring in almost 60 percent more in residential rent annually than homes in neighborhoods where cars are a necessity.
People’s interest in walkable neighborhoods is becoming more popular with the trend moving towards healthier lifestyles that include walking, bike riding and ride sharing. Many new developments now include high-density residential areas located where retail and office space is all within walking distance.