Proximity to mass transit has positive effect on property values: study

During the last economic recession, residential property values performed 41 percent better on average if they were located near public transportation with high-frequency service – called a “transit premium,” according to an American Public Transportation Association (APTA)/National Association of Realtors (NAR) study.

The study looked at the effects of cities across the U.S. — including Chicago and CTA and Metra — between 2006 and 2011, when residential property values in the U.S. declined substantially, and found that properties close to public transit showed “significantly stronger resiliency.”

Other interesting tidbits from the study:

  • Property values: Residents close to the CTA also saw average residential property sales perform 47.3 percent better than the rest of the Chicago region, while average sales prices for residential properties in the Chicago region declined by nearly one-third between 2006 and 2011.
  • Transportation costs: Residents with close access to the CTA spend about $300 month less a month on transportation compared with the Chicago regional average.
  • Including all public transportation across the Chicago region, area home values near public transportation performed nearly 30 percent higher than the region.
  • In Chicago neighborhoods and communities with close access to public transit, residents have access to more than twice the number of jobs per square mile compared to other areas of metro Chicago not close to public transportation.
  • The CTA provides 1.7 million rides each weekday and provided more than 545 million rides in 2012, the highest level in 22 years.

Download the study.


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  • Especially when the report talks about such things as "walkable streets," I wonder if they took into account the Green Line south of 35th. Maybe values there were decimated before the study's 2006 parameter. Similarly, I wonder how the ME is doing between, say 67th and South Chicago* or 87th.

    Appendix B isn't in that pdf, and since it deals with percentages, one doesn't know what the base was. Obviously 549% at Noyes is a lot more money than 461% in Rosemoor.

    *And if any effect is attributable to the ME South Chicago branch, or 6, 14, and 26 buses.

  • You are ABSOLUTELY RIGHT jack -- since the MED provides N O useful type of service to most in-city South Side areas -- It doesn't contribute FECES to the area Communities.

    N O T "Property Values" -- Or any damm thing else!

    TOO BAD there is JUST NO WAY to change the situation.

  • I am fielding an appointment with Rep. Al Riley's office about how CTA and Metra waste Billions of City and State dollars on the South Side, by competing with each other -- never mind the fares screw-up.

    And present to him additional Alternative for the Red Line Shutdown.

    And promote the only MCP in CMAP's RTP that was submitted by (and accepted from) a Private Individual (directly from Chicago's South Side minority Communities).

    From what I saw last week, he MAY be in a frame of mind to listen to my input!

    This sure isn't going to be a boring Summer!

  • Especially as riders flock to the free shuttle buses and ignore Metra by the droves.

  • In reply to jack:

    Until a storm, or a fire, accident, or just heavy traffic makes some buses take over an hour from 95th to Garfield. OR Police "activity" at 43rd, or 51st Streets stops the SSM for 2.5 hours ( Is there a "Contingency Plan B"?? )

    A lot of that "Police activity" stuff is VERY likely what with the "Free Boarding" at Garfield.

  • Do you have any response about how to handle those situations jack?

    And Please DON'T say "That can't happen" because it can, and it W I L L !

  • Rosemoor was cited in the report as the Metra station with the highest impact (percentage wise) and that's in the city.

    But as I implied, maybe 461% of nothing is nothing.

  • If this study was redone/updated today and included commercial property, would we now see decreases based on flash mobbing?

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