Industry News

What Buyers Will Give Up for Walkability

Source: National Association of Realtors

Living in areas that are close to shops and restaurants is becoming increasingly attractive for both young and older generations, according to the 2017 National Community and Transportation Preference Survey conducted by American Strategies and Meyers Research on behalf of the National Association of REALTORS®. Researchers polled 3,000 adults from across the United States to find out what they are looking for in a community.

Fifty-three percent of Americans say they prefer to live in a community with homes that have smaller yards but are within easy walking distance of the community’s amenities (rather than homes with large yards where residents have to drive to amenities) according to the survey.

Certain generations show even more fondness for living near amenities. Sixty-two percent of millennials and 55 percent of the silent generation (those born before 1944) say they prefer walkable communities and short commutes, even if it means living in an apartment or townhouse. Meanwhile, Generation X members and baby boomers show a strong preference for the suburbs; 55 percent of them told researchers they have no problem with a longer commute and driving to amenities as long as they can live in a single-family, detached house.

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