The Real Estate Mantra: Locate Near Public Transportation

This study compares the performance of residential and commercial property sales near fixed-guideway stations with areas without public transit access between 2012 and 2016 in seven regions: Boston; Eugene, Oregon; Hartford, Connecticut; Los Angeles; Minneapolis–St. Paul; Phoenix; and Seattle. Results show that in the seven regions analyzed, residential properties in proximity to public transit performed better than properties farther from public transit, generating higher property values. Additionally, people living near fixed-guideway public transportation have lower annual transportation costs and have access to a greater number of jobs within a 30-minute commute, along with connections to more destinations. This report supports the further expansion of public transit services, along with appropriate land use policies, as a means of propelling development and housing opportunities.