Homes Worth 42 Percent More Near Metra Stations
A study finds people can commute cheaply to a greater number of jobs if they live near public transit.
Living near a Metra station is not only convenient for commuters, but it also raises property values, a new study reports. Data in the study released by the American Public Transportation Association and the National Association of Realtors reveal that during the last recession, residential property values performed 42 percent better on average if they were located near public transportation with high-frequency service, the realtors' and public transit associations said in a statement. The reasons? Access to more jobs and a cheaper, often shorter, commute. "When homes are located near public transportation, they are among the most valuable and desirable in the area," said APTA President and CEO Michael Melaniphy. "This study shows that …
PR Resident
2:40 pm on Saturday, March 23, 2013
Wow, 8:31 PM Park Ridge Resident, if you're near to both the Metra station and the proposed park at TYC .... your home is probably worth 84% more ... what a fantastic quality of life setting! more ›