Skip to main content

Main menu

  • Playground
  • Surfacing
  • Parks
  • Athletics
  • Aquatics
  • Play
Home
  • Playground
  • Surfacing
  • Parks
  • Athletics
  • Aquatics
  • Play
  • How Rubber is Changing Playground Equipment Technology
  • The Evolution of Playground Surfacing
  • Playground Turf
  • Playground Supervision: How Much Is Too Much?
  • Trends in Playground Design and Amenities
  • 6 Steps to Your Perfect Park and Playground

Breadcrumb

  1. Home
  2. Parks
  3. Parks + Real Estate = Increasing Value

Parks + Real Estate = Increasing Value

Parks
June 01, 2015
Profile picture for user Playworld
By Playworld on
  • facebook-f
  • twitter
  • envelope
  • print
3869
Playworld Systems - parks + real estate = increasing value

Playworld Systems - parks + real estate = increasing value

houses near parks increase in value

We all know the benefits of getting outside: social, spiritual, physical, psychological … but did you know parks help raise property values in addition to spirits?

Parks unite communities and encourage residents to engage with nature. Rest and recreation resonates so strongly with people that they are willing to pay extra for proximity to a setting that allows them to unwind. The National Association of Realtors1 survey found that 50 percent of home buyers were prepared to pay 10 percent more for the same house if located near a park.  A study2 conducted in Boulder Colorado found that houses decreased in price on average of $4.20 for every foot the house was from the nearest park.

houses near parks increase in valueBut it’s not only homeowners who value parks … property values are now higher near parks and with increased interest in park investment, businesses are willing to spend top dollar developing properties with even greater profits.

For example, in Pittsburgh over $130 million was invested in the 13-mile Three Rivers Park. This contributed to $4.1 billion of development on and near the riverfront. Over 15 years, property values in the area have jumped nearly 60 percent compared with 32 percent in the rest of the city. In other park projects across the country the increase in value created by a park project has increased property taxes enough to pay off the bond debt in three years.3

Pittsburgh is just one city where this time-tested relationship between increasing property values and proximity to parks.

Parks play an important role in our society.  If you are looking to sell your home and a park is nearby, make sure you make that point known on the listing. It’s not only young families with young children who want to live near an open green space.  If you look at the list of most livable cities you’ll notice many of the locations are known for great outdoor community spaces and also have destination parks located within the confines of their city.

We all take great care to increase property values of our homes.  Will you lobby for more parks in your towns now that you know it positively impacts your home’s value?  Let us know in the comments.

Source

http://playworldsystems.com/blog/parks-real-estate-increasing-value/

  • 1National Association of Realtors, “NAR Survey Shows Public Support for Open Space Depends on Use and Cost,” Press release, April 25, 2001
  • 2Mark R. Correll, Jane H. Lillydahl, and Larry D. Singell, “The Effect of Greenbelts on Residential Property Values: Some Findings on the Political Economy of Open Space,” Land Economics, May 1978
  • 3“Benefits of Parks” – Trust for Public Land, 2006
Profile picture for user Playworld
Playworld
Published 7 years ago
Last updated 2 months ago
3869
1
min read
A- A+
  • facebook-f
  • twitter
  • envelope
  • print

Subscribe to our weekly newsletter

More About

Mother & Daughter walking in a park
Oct 30, 2018
Parks

8 Amazing Benefits of Spending Weekends with Your Kids in Park

Serena Dorf
People enjoying the park
Mar 15, 2019
Parks

How You Can Help the Park Industry as a Student

Elsa Avendano
Apr 21, 2015
Parks

The Trust for Public Land's 2015 City Park Facts Report is a Powerful Tool for Advocacy

Anne-Marie-Spencer
Tips for Planning a Successful Community Event
Oct 25, 2021
Parks

Tips for Planning a Successful Community Event

PGP
Beautiful Pennsylvania park
Feb 19, 2018
Parks

Showcase your parks in 2018 - become a NRPA Park Champion!

PGP
Hanifl
Jan 12, 2016
Parks

The Hanifl Family Wild Woods A Nature Based Play-Area at The Minnesota Zoo

PGP
Nov 01, 2003
Parks

Great Park Experience

Playground Magazine
Aerial view of the 606
Dec 07, 2017
Parks

Urban Parks’ Emerging Role as Transportation Infrastructure

PGP
Pease Park Adds Kingsbury Commons
Dec 04, 2018
Parks

Pease Park Adds Kingsbury Commons

Peasepark Cons…
West Hills Park Entrance
Jul 07, 2020
Parks

A Thank You Note to my Local Park

Joann Robertson
Meet Me At The Park
Mar 27, 2017
Parks

Sixteen Cities Nationwide to Receive Park Improvement Funding as Part of National 'Meet Me at the Park' Campaign

Heather Williams
Erie Bluffs State Park
Oct 25, 2018
Parks

Americans support parks - and prefer candidates who do too

Tim Herd

Parks Professionals

Pennsylvania Recreation & Park Society
Pennsylvania Recreation & Park Society
Organization
More
Protecting Our Parks (POP)
Protecting Our Parks (POP)
Organization
More
The Trust for Public Lands
The Trust for Public Lands
Organization
More
Pease Park Conservancy
Pease Park Conservancy
Organization
More
The Parks and Recreation Summit
The Parks and Recreation Summit
Organization
More
Michigan Recreation and Park Association
Michigan Recreation and Park Association
Organization
More
Home

Follow Us

Play and playground news and information since 2001

  • instagram
  • facebook-f
  • twitter
  • pinterest
  • linkedin

Company

  • Playground Magazine
  • Contributors
  • Advertise
  • Subscribe

Copyright © 2001 - 2023 Playground Professionals, LLC

Footer menu

  • Contact
  • Privacy
  • Terms and conditions