Cincinnati Real Estate Blog

It's an urban (and suburban) myth that proximity to public transportation systems decreases property values and increases crime rates. In fact, just the opposite is true.

 

Increasingly, cities and towns are creating or expanding mass transportation to boost economic activity, provide convenient alternatives to costly highway systems, and dramatically reduce greenhouse emissions. In the past, homeowners feared that signs announcing construction of transit systems signaled lower property values, while serving as a virtual invitation to criminals. But studies show that properties near, but not directly adjacent to, mass transit actually increases in value and crime rates aren't influenced by transit options.

Riding the rail to increased property values

How much value does a close-by public transportation option add to a house? After looking at 41 studies of 15 rail systems across the county, researchers at California State-Fullerton concluded (http://www.lightrailnow.org/myths/m_oct003.htm) light rail transit has enhanced residential property values 2% to 18% in Portland, Sacramento, San Diego, and Santa Clara, with larger changes in cities with commuter rail systems."

Will it bring crime?

Another stereotype about public transportation is that it brings criminals into the neighborhood. Research shows, however, that the existing socio-demographic makeup of the neighborhood is what drives crime, not its proximity to public transportation. (http://www.uctc.net/papers/550.pdf)

What you can do

Use it or lose it. If you'd like to show your support for public transportation, start by using it whenever possible. Systems with high ridership numbers are better able to expand routes, upgrade services and technology, and qualify for government funding.

 

Spend less on gas. By riding public transit, not only will you reduce the size of your carbon footprint, you'll save money. Transit riders spend about $1,500 less on gasoline per year than commuters who drive to work, and transit availability and use can annually save $8,400 in a household budget, according to PublicTransportation.org (http://www.publictransportation.org/default.asp).

 

Contact government officials. Let local and federal officials know you support public transportation in your community. Voter support helps build political momentum for mass transit funding.

 

Get involved. There are any number of ways to actively support public transit. Need something small and easy? Wear a button supporting public transit (http://www.publictransportation.org/contact/support.asp). If you're really dedicated, volunteer for your community's transportation advisory board.

 

 

Julz Brown

Group Realtors

www.SellingCincinnatiHomes.com

513.237.1072

 

Reprinted from HouseLogic with permission of the National Association of Realtors®

 


Posted by Julz Brown on May 22nd, 2010 1:03 PM

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