walmart neighborhood property values

Here’s a graph showing that home sales went up after construction of a Walmart.

The researchers found that the Walmart acted as a community hub and people will pay for the convenience of having one nearby.

We use over one million housing transactions located near 159 Walmarts that opened between 2000 and 2006 to test if the opening of a Walmart does indeed lower housing prices. Using a difference-in-differences specification, our estimates suggest that a new Walmart store actually increases housing prices by between 2 and 3 percent for houses located within 0.5 miles of the store and by 1 to 2 percent for houses located between 0.5 and 1 mile.

Devin Pope from the University of Chicago and Jaren Pope at Brigham Young University describe their study and results:

But a new study published by the National Bureau of Economic Research shows that a Walmart in close vicinity can actually increase home values.

Wal-Mart opponents have long claimed that the store lowers home values in the surrounding area. The argument is that the bright lights, traffic and pollution a Walmart brings hurts the neighborhood.

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DEBUNKED: Walmart Does Not Make Your Home Value Go Down « Walmart Chicago