October 4th, 2019 3:00 PM by Jackie A. Graves
Are you ready for some football? Many fans will tell you that
football is more than just a game, and they aren't exaggerating! While you may
associate football season with tailgates, timeless rivalries and tradition, on
a national scale an NFL stadium can have a major impact on the local economy
and real estate market.
Over the past decade, the price tag for a new stadium has breached
the billion-dollar mark. In 2020, both the Raiders $1.9 billion Las Vegas
stadium and the Rams and Chargers $5 billion Inglewood stadium are scheduled to
open just in time for the NFL season. Stadiums are expensive—so how are they
potentially impacting the value of your home?
Research from Trulia looked at the
current value of real estate and comparable rentals within a 2-mile radius
around existing NFL stadiums and evaluated how much home values near the
stadium differed from average home values in the region. While they did not
find a definitive cause-and-effect relationship between stadiums and home
values, they did find that of the 31 neighborhoods around the nation's pro
football stadiums (MetLife Stadium is currently home to both the Jets and
Giants), nearly two thirds have higher home values, on average, than houses in
non-stadium metro neighborhoods. For example, home values around Lincoln Field
in Philadelphia are around 44% higher than average home values for the region
and rents are on average 8.9% higher.
According to the report, these are the top 10 NFL stadiums where
local neighborhoods are enjoying the strongest price appreciation. How does
your team rank against the rest?
premium for home values
premium for rent
of America Stadium
New Orleans, LA
East Rutherford, NJ
Research: "Field Position: Does An NFL Stadium Boost Your Home
Source: To view the original article