In a recent announcement, the National Association of Realtors® (NAR) shared interesting insights from their 2023 Community & Transportation Preferences Survey. This survey, conducted every three years, offers valuable perspectives on Americans’ preferences when it comes to their home’s location and community attributes. The findings highlight a growing sentiment among buyers today— living in walkable communities significantly contributes to a higher quality of life.
According to NAR President Kenny Parcell, “With COVID in our rearview mirror, this study shows that a substantial demand for walkability persists for Americans of all ages.” This study—from residents polled in America’s 50 largest metropolitan areas—has been a consistent tool for over two decades, allowing Realtors® and communities to adapt to shifting lifestyle trends and patterns.
Key insights from the survey include:
- Walking Distance Matters: An impressive 79% of respondents indicated that living within an easy walk of amenities like shops and parks is very/somewhat important. Notably, 78% of these individuals are willing to pay more to reside in such a walkable community.
- Emphasis on Walkways: An overwhelming 85% of participants consider sidewalks and places to walk as very/somewhat important factors in their residential decision-making process.
- Proximity to Public Transport: Around 65% of those surveyed prioritize having public transportation nearby, indicating its relevance in their choice of residence.
- Small Yard vs. Accessibility: The preference for walkability extends to housing preferences as well. A majority (56%) would opt for a house with a small yard if it means they can walk to nearby places, compared to 44% who prioritize a larger yard but would need to drive for most activities.
- Community Style and Commute: More individuals (53%) lean towards attached dwellings like townhouses, condos, or apartments if it means they can walk to shops, restaurants, and enjoy a shorter commute. On the other hand, 47% would choose a single-family home with the trade-off of having to drive for amenities and a longer commute.
Given the many benefits from convenience to wellbeing, it’s evident that the charm of walkability is here to stay and The Estridge Group would be happy to help you find the perfect property that works for you!
Give us a call today!