Using Market Analysis of Home Values to Measure the Economic and Fiscal Effects of Multi-Use Trails

January 1, 2010

Funding: Robert Wood Johnson Foundation

Summary: Multi-use trails encourage and facilitate physical activity among all age groups. Their separation from motorized traffic makes them especially attractive for families with children.  One concrete way to evaluate the economic benefit of trails to a community is to measure their impact on housing values. Does the presence of a trail affect housing prices? Does ease of access to a trail affect housing prices? In this proposed study we will estimate the economic impact of trail presence and access on housing values in Montgomery County, Maryland.  In addition, the study will use its findings to calculate the impact of property tax revenues produced by the trails and compare those values with the construction and maintenance costs of the trails borne by the Montgomery County government.



Garry Young - Director

Andrea Sarzynski

Joseph Cordes

Hal Wolman - Research Professor