Metromode has always known that walkable communties with density are more attractive to professionla folks... but we had no idea they were as attractive (re: expensive) as Brookings Institute researchers Christopher Leinberger and Mariela Alfonzo reveal in a new study.
Excerpt:
Instinct probably tells you that you’ll pay a lot more to live in a downtown apartment, above a grocery store, next to a bar strip and within walking distance of your work place than you will to settle into a comparable home in a bedroom community outside of the city. As this model of compact urban living grows more popular – and every new housing projection
reaffirms that it is – walkable places are also growing more expensive.
Just how much more expensive, though, may shock you.
New research from the Brookings Institution has created a five-tiered scale of walkability for metropolitan neighborhoods, from completely non-walkable places (exurban residential communities where everyone gets around by car) to mixed-use, dense and amenity-rich neighborhoods where you may not need a car at all (think, in the Washington, D.C., region, Dupont Circle and Georgetown).
Read the rest
here.