KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market
Real Estate

'Close to bus line' pays off in value

Homes close to public transportation are worth more than similar properties that don't have nearby access to subways, rail lines, or buses, according to a study commissioned by the American Public Transportation Association and the National Association of Realtors.

Researchers evaluated five years of sales data in several major metros with various public transportation options. They found that homes located within a half-mile of public transportation were valued 41 percent higher than properties located outside that area.

"Transportation plays an important role in real estate and housing decisions, and the data suggests that residential real estate near public transit will remain attractive to buyers," said Lawrence Yun, NAR's chief economist. "When consumers choose a home, they also choose a lifestyle. Shorter commutes and more walkable neighborhoods matter to a growing number of people, especially those living in congested metro areas."

While buyers show a desire to be close to public transportation, they don't want to be too close, the study found. For properties too close to certain features, like the actual rails for the light rail system, property values can be adversely impacted.

Top Stories
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Listen to the show
Hear Real Estate Today on KIRO Radio
Join Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.

Sign up for breaking news e-mail alerts from
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.