“As with Transit-Oriented Development (TOD), where demand to live in and around TOD projects has increased, studies are showing a similar trend for Trail-Oriented Development, where there is a rising demand for bike-friendly and walkable places close to trails.
Trails, according to a National Association of Homebuilders study, are the number one amenity potential homeowners cite when they are looking at moving into a new community. Trails provide communities with a valuable amenity that translates into increased housing values, a positive impact on property values and enhanced tax revenue for municipalities.”
Transit-Oriented Development to Trail-Oriented Development
“ATTOM Data Solutions analyzed 2016 home values and price appreciation along with 2015 average test scores in 18,968 elementary schools nationwide in 4,435 zip codes with a combined 45.9 million single family homes and condos. For purposes of this report, a good school was defined as any with an overall test score at least one-third above the state average.
Out of 1,661 zip codes with at least one good school, the average estimated home value as of July 2016 was $427,402, 77 percent higher than the average home value of $241,096 in 2,774 zip codes without any good schools.”
Home Values 77 Percent Higher in Zip Codes with Good Schools