As Seattle grows and expands, living in an area where all of your needs can be met in a walkable distance is becoming more and more of a priority. As we wait for light rail to really connect the region and watch as our roads come to a standstill at rush hour, Seattleites are the types to explore their neighborhoods on foot in order to find what they need.
As such, it’s the kind of city where a good Walk Score can have a serious impact on housing prices.
That’s what Redfin says in their new report based on figuring out the true value of a Walk Score (which is Redfin’s proprietary rating system, FYI). According to their report, an increase of one Walk Score point bumps a Seattle home’s price by an average of $3,603 or 0.96 percent.
They note, however, that not all Walk Score points create equal value. Increasing a home’s Walk Score from 19 to 20 will have a relatively minor impact on home value while an increase from 79 to 80 will have a massive impact. The closer a home’s Walk Score is to 100, the higher the financial impact for each point.
One subset where a higher Walk Score doesn’t have quite the same impact is with luxury homes. They found that an increase of one Walk Score point is worth $5,119 on average for a house asking $1,000,000 or more. That might sound like a lot but it’s only a 0.51 percent jump. It makes sense that the impact would be lessened as those looking for luxury homes are often looking for privacy and space as well.
So based on this, where should be looking for Seattle neighborhoods with high Walk Scores? The 8th-most walkable city (72.9 score) has the most walkability in Downtown (98), Pioneer Square (98) and Belltown (98). The median Walk Score neighborhood in town is Phinney Ridge (79) while the lowest-scoring neighborhood is Rainier View (19).
How Much is a Point of Walk Score Worth? [Redfin]
How much is walkability worth in your neighborhood? [Curbed]