Bike paths and real estate

As we pointed out in our report, The Economic Benefits of Bicycle Infrastructure Investments, studies have shown that real estate property values increase with proximity to bicycle paths. People enjoy living close to bike paths and are willing to pay more for an otherwise comparable house to be closer to one. For example homes within a half mile of the Manon Trail in Indianapolis, Indiana, sell for 14 percent more than comparable houses farther away from the trail.

Photos from LA Times

In recognition of National Bike Month, the Los Angeles Times Business Section published an article this weekend that shows that the value of bicycle paths is not lost on those covering real estate. In an article with the helpful headline “On the Market: Homes Near Bike Paths,” they feature six properties for sale located near close to bicycle facilities. A brief description next to each photo mentions which bicycle path or trails is nearby the property. The values range from just over $300,000 to 1.3 million, which I believe in California, qualifies as something for everyone.

Click on the article to imagine yourself in one of the featured homes-near-paths.

Darren Flusche
League Policy Director

Flusche joined the League in April 2009 and has a B.A. in history from Syracuse University and a Masters of Public Administration with a concentration in public policy analysis from New York University.

This entry was posted on Tuesday, May 18th, 2010 at 10:32 am and is filed under Economic Impacts, National Bike Month. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.