Walking the Walk: How Walkability Raises Home Values in U.S. Cities

Walking the Walk: How Walkability Raises Home Values in U.S. Cities

http://www.ceosforcities.org/files/WalkingTheWalk_CEOsforCities.pdf

Walkability is defined by the Walk Score algorithm (www.walkscore.com), which works by calculating the closest amenities – restaurants, coffee shops, schools, parks, stores, libraries, etc. – to any U.S. address. The algorithm then assigns a “Walk Score” from 0-100, with 100 being the most walkable and 0 being totally car-dependent. Walk Scores of 70+ indicate neighborhoods where it’s possible to get by without a car.

By the Walk Score measure, walkability is a direct function of how many destinations are located within a short distance (generally between one-quarter mile and one mile of a home).