Seattle, WA: Homes located near cannabis retailers are more likely than others to appreciate in value, according to an analysis provided by Tomo Real Estate.
Analysts assessed the relationship between cannabis retailers and home prices in three states: Colorado, Michigan, and Oregon. Researchers examined annual increases or decreases in median home prices in zip codes with a dispensary compared to median home price changes in the surrounding zip codes.
Researchers concluded that homes located in towns with dispensaries experienced, on average, an annual increase in home values of $4,400.
The findings are consistent with those of several others which have reported increased home values for properties located close to licensed cannabis establishments, as well as in states that have enacted legalization.
Full text of the findings is available from Tomo. Additional information is available from the NORML Fact Sheet, ‘Societal Impacts of Cannabis Dispensaries/Retailers
Analysis: Proximity to Cannabis Retailers Associated With Rising Home Values
