Community gardens and real estate values

[Lance Christie]

THE VALUE OF COMMUNITY GARDENS: A study published in 2008 in Real Estate Economics looked at housing values in a 1,000-foot ring around new community garden projects.  In poor neighborhoods, where housing prices were significantly lower than in surrounding vicinities, values increased as much as 9.4% over the five-year period following a community garden’s opening.  Immediate neighbors benefitted the most, but appreciated value was detected up to 1,000 feet away.  The researchers found that the community gardens had their greatest impacts in disadvantaged neighborhoods far from city parks.  No matter what income level neighborhood community gardens were located in, well-maintained gardens had the most significant positive financial impacts on property values.