For some time, our research at City Observatory, and that of other scholars has shown that houses with high levels of walkability (as measured by Walk Score) command a premium over otherwise similar homes in less walkable locations. Our estimates are that a single additional point of WalkScore is worth $3,500 in additional home value. Real estate analytics rivals Redfin and Zillow have both found statistically significant correlations between walkability and home values for a wide range of US cities.

A recent study from Redfin looks at the variations in home appreciation rates between the most walkable homes and those located in car-dependent locations. The study gathers data for individual metro areas, and compares home values within metro areas for the two types of housing. In most metropolitan areas, homes in more walkable areas are worth more than homes in car dependent areas.

Walkability commands a value premium in most US markets

For each metropolitan area, we’ve computed the walkability premium—the difference in the average value of homes in walkable neighborhoods compared to the average value of homes in car-dependent neighborhoods. This map shows home values for the 50 largest metro areas. Areas shaded green have a premium for walkable homes over ones in car-dependent areas; red shows metros where car-dependent homes are more valuable, on average, than in walkable neighborhoods. You can hover over each metro area to see the average value of each home type.