Charles HorningPoster
- Real Estate Agent
Posted Mar 29 2023, 15:35
- A study conducted by researchers at the University of Colorado found that homes located within 0.1 miles of train tracks sold for an average of 12.3% less than similar homes located further away from the tracks. The study also found that the closer a home was to the train tracks, the larger the discount.
Source: "A Signal of Neglect: Abandoned Railroads and Property Values." Journal of Real Estate Research, vol. 36, no. 1, 2014, pp. 1-18.
- A study by Zillow found that homes located within 250 feet of train tracks sold for 2.6% less than similar homes located further away. However, the study also found that homes located within 50 feet of train tracks sold for 4.2% less than similar homes located further away.
Source: "Does Living Near a Train Station Boost Home Values?" Zillow, 6 Aug. 2019.
- Another study conducted by researchers at the University of Wisconsin-Milwaukee found that homes located within 500 feet of train tracks sold for an average of 8.4% less than similar homes located further away. The study also found that the closer a home was to the train tracks, the larger the discount.
Source: "The Impact of Rail Transit on Property Values: Evidence from Milwaukee, Wisconsin." Journal of Transport Economics and Policy, vol. 44, no. 2, 2010, pp. 161-188.
Overall, these studies suggest that train tracks can have a negative impact on a property's value, with discounts ranging from 2.6% to 12.3%. However, the actual impact will depend on various factors such as the distance from the tracks, frequency of trains, noise level, and preferences of potential buyers.
Curious if anyone has any insight that either supports or disproves these findings?
