And with the walkability factor becoming more in demand, walkability may increase the saleability of the home! Walkable urban areas are showing signs of becoming the strongest housing market today.
The real estate website feature “Walk Score” lets buyers know how close each home is listed to shops, restaurants and community parks. Franklin, Massachusetts has a walkable score of “88″ out of “100″ and considered very walkable.
Market reports show that home values in walkable neighborhoods are greater than in the car dependent suburbs. Home rents in urban walkable neighborhoods are able to bring 60% more annually than those in the suburbs where a car is needed.
A Pew Research Center Social & Demographic Trends survey showed “suburbanites are significantly more satisfied with their communities than are residents of cities, small towns or rural areas. This survey explores what Americans like — and don’t like — about the places where they live”.
The rebirth of the downtown district has been unfolding for many years, however, the positive activity the real estate market is experiencing has given rise to new opportunities for today’s home buyers. The 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.
If you haven’t yet been outside today, consider taking a walk.