Quantcast

The Real Deal Los Angeles

L.A. homebuyers pay a significant premium to live in walkable neighborhoods: Redfin

Angelenos will pay $3,948 more on average to live in pedestrian-friendly areas

August 24, 2016 10:00AM

  • Print
The intersection at Hollywood Boulevard and Highland Avenue (Credit: LA Great Streets Tumblr)

The intersection at Hollywood Boulevard and Highland Avenue (Credit: LA Great Streets Tumblr)

Angelenos are notorious for driving everywhere, but they’re paying top dollar to live in walkable neighborhoods.

Homeowners in pedestrian-friendly L.A. neighborhoods pay an average premium of $3,948 more for homes in more walkable neighborhoods, according to a study by Redfin.

Redfin ranked neighborhood walkability on a scale from 1 and 100 based on a resident’s proximity to local amenities by foot. Fewer than 2 percent of active listings in L.A. scored 90 or higher, and most were concentrated in Silverlake, DTLA and Koreatown.

The city has an above average overall score of 66.3, compared to 77.5 and 85.7 in Chicago and San Francisco, respectively.

“Los Angeles is in transition — an evolving city in terms of what is considered livable, and walkability is an important component of that,” Redfin chief economist Nela Richardson told the L.A. Times. [Redfin] [LAT] — Cathaleen Chen 

MENU