Does Public Transportation Access Really Increase Your Homes Value?
While many people now see a benefit to living closer to public transportation access, does it really increase the value of your home?
The answer is YES, it does!
While there used to be an urban myth that public transportation in close proximity to your home would have a negative impact on pricing & increase the crime rate, there have been a few notable studies that showed the opposite.
One such study out of California State-Fullerton looked at the rail systems across the country & found that light rail transit had enhanced the property values by 2-18% in cities like Portland, Sacramento, San Diego & more.
In addition, the crime rate is no different, it sometimes can be even safer than non-transit surrounding areas!
As we see the expansion of TTC & GO services across the Greater Toronto Area, there will be numerous neighbourhoods that will benefit from this increased transportation access & the property appreciation that comes along with it.
What are some areas that you think need the most transportation improvement in the city?
Let us know in the comments below!