Walkable + greenery = $$$ (Pittsburgh, Portland: house, neighborhood, price)

[BrianTH]

So this is an interesting report out of Portland about how public greenery enhances the value of walkable amenities:

Street of Greens -- Home & Garden

Key snippet:

Say House A and House B are both worth $300,000, the average price in Netusil’s data set. House A sits in a concrete jungle, House B in a verdant, tree-lined ’hood. New grocery stores open within half a mile of each. . . . According to Netusil, the new store adds just $3,500 to the potential price of House A; in House B’s leafy Eden, the improved walkability score sprouts $22,000 in greater value.

As in Portland, this represents a real opportunity for Pittsburgh, since our climate is also conducive to public greenery. So the next time you see a project that incorporates a greenery element--street trees, small parks, and so on--keep in mind that represents a lot of value.