Does walkability increase home value?

Yes. Across 15 US housing markets, a 2009 CEOs for Cities analysis (Cortright) found each one-point increase in Walk Score was associated with roughly $700 to $3,000 in higher home value in 13 of the 15 markets, after controlling for house size, age, and neighborhood income.

How much is the walkability premium?

For homes, roughly $700 to $3,000 in added value per Walk Score point (Cortright 2009). For commercial property, 1% to 9% higher value per 10-point walkability gain, plus higher rents and net operating income (Pivo & Fisher 2010).

Do walkable homes have lower mortgage default risk?

Yes. Rauterkus, Thrall & Hangen (2010) found more location-efficient (walkable) homes had lower residential mortgage default rates, and Pivo & An (2015, 2016) found sustainable and walkable features predicted lower default risk for securitized commercial mortgages.

Is the walkability premium causal?

The premiums are observational associations measured with controls, not causal estimates from a randomized design. A walkability score measures walkable access and is best used comparatively, not as an appraisal input.

The walkability premium: what walkable neighborhoods are worth

Does walkability raise home values? Peer-reviewed research found each Walk Score point adds roughly $700 to $3,000 in home value (Cortright 2009), commercial property gains 1 to 9% per 10 points (Pivo & Fisher 2010), and walkable homes default on their mortgages less often. A SafeStreets review.

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