When it comes to real estate, walkability pays
A new survey parsed the results of the sales of 90,000 homes in 15 markets nationwide and found that almost everywhere, people value walkable neighborhoods -- to the tune of $4,000 to $34,000. That's how much more people paid for houses within neighborhoods with high Walk Scores than they did for comparable homes in less walkable neighborhoods.
The study, commissioned by the group CEOs for Cities, used a previously developed Walk Score in evaluating home sales. Inman explains:
Los Feliz, above, is Los Angeles' 10th-highest Walk Scoring neigborhood. Some of our city's Walk Score results might surprise you: The highest score is for Beverly Hills (or as they put it, "Mid City West") and Westlake -- where MacArthur Park is located -- is at No. 9.
According to the website, 47% of Los Angeles residents live in neighborhoods with Walk Scores of 70 and above. But if you're feeling really entrepreneurial, maybe it's time to start shopping for real estate in ZIP code 90057.
-- Carolyn Kellogg
Photo: Spencer Weiner / Los Angeles Times
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