The Impact a Bike Trail Has on Your Home Value & Neighborhood
Do Bike Paths Increase Property Values?
If your instincts tell you that living near a neighborhood bike trail is a good thing, then your instincts are spot-on. And there is much more than instincts to back it up. Various agencies have been researching the topic for decades now, and year after year the results are the same. Bike trails bring a slew of benefits to your home, neighborhood and overall community.
Urban Bike Trails Increase Home Values
Many realtors actually use a home’s proximity to an urban bike trail as a selling point, and it’s no wonder. A study that looked at home values in Indianapolis compared two identical houses that were different distances away from the trail. The home that was within one-half mile of the trail would sell at a price that was an average of 11% higher than the one farther from the trail.
Trails are often located in greenbelts, which are open areas that have also been shown to long have a positive impact on home values. A 2009 study of home values in and around San Antonio found that trails, greenbelts and a combination of the two all increased property values.
- 2% house price premium for homes near trails
- 3% house price premium for homes near greenbelts
- 5% house price premium for homes near greenways, which are trails in greenbelts
Neighborhood Bike Trails Enhance Quality of Life
Home values aren’t the only thing affected by an urban bike trail. Trails also enhance the quality of life for the neighborhood as well as the overall community. Greater transportation options make the community more livable, and therefore more attractive. In some areas, bike trails have become huge community assets that connect different neighborhoods, become attractions for like-minded individuals and bring people together.
They also put the focus on creating a more sustainable and vibrant future. As people continue to do what they can to help preserve the environment, biking is picking up popularity as an eco-friendly mode of transportation (as well as a fabulous way to get some exercise).
All these benefits and we didn’t even yet touch on the easy access to an adventure for active folks, who can simply hop on their bike and ride. Urban bike trails can likewise double as walking trails, where people can run, job, walk their dogs or take a leisurely stroll any time of the day.
Hop on a Bike Trail from West Line Village!
Lakewood, Colorado’s West Line Village sits a stone’s throw from a major bike trail leading east to downtown Denver, or west to the foothills. Biking is convenient, accessible and ready to keep home values high for years to come. Choose a townhome that will retain its value, while providing a higher overall quality of life. Contact West Line Village today!