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Here’s how much walkability could be worth in your neighborhood

Here’s how much walkability could be worth in your neighborhood

The more walkable your city is, the higher your chance of homes slapping on a premium

It’s no secret that living in walking distance to work, schools or even shops is growing ever more popular, but it’s also a considerably rare commodity (which, in turn, makes it ever more desirable).

New research by Redfin now reveals just how much exactly walkability, expressed in form of a Walk Score, is worth in some of the States’ major metropolitan areas.

Walk Score, ranked on a scale from 0 to 100, is Redfin’s property rating system, measuring how pedestrian-friendly an area is.

Restaurants, schools, parks and other amenities in a 30-minute-walk radius are taken into account to determine an area’s Walk Score.

And of course, a supermarket in a five-minute-walk radius is will rate higher than the park 25 minutes down the road.

So, how much does it add to a property’s value?

Everything else being equal, not all increases in Walk Score points are equal.

On average, if a home has a score of 19 and rises to 20, the gain makes for a mere $181 on average, across all studied metros.

At the other end of the scale, an increase from 79 to a score of 80 means the median house price increased by $7,031 (€6,337.97, £5,422.23) – but that also depends on the metro you’re looking at.

In Phoenix, Arizona, increasing the Walk Score from 60 to 80 saw a home’s value rise by $16,000 (€14,423.51, £12,341.44).

For the same score change, residents in San Francisco pay nearly 12 times as much as in Phoenix, with a premium of $188,000 (€169,476.25, £144,945.42).

An increase of one score point sees a median increase in home price of $3,943 (€3,554.35, £3,041.39) – just $5 (€, £) less than in Los Angeles, which comes with a considerably lower Walk Score of 66.3.

Also ranking high were Boston (80.7), Chicago (77.5) and Washington DC (77).

At the lower end of the scale sit Phoenix (40.3), Orange County (43.5) and Atlanta (48.4).