Gen Z & Millennials Will Pay More To Live In A Walkable Community
Americans are all about walkable neighborhoods, a new study has found. This is especially true for the younger generations, who are even willing to pay more to be in a community that’s walkable.
The National Association of Realtors (NAR) recently published their “2023 Community and Transportation Preferences Survey.” It found:
- 79% of all respondents said that walkability is “very” or “somewhat” important
- 78% of all respondents said they’d pay more for a house in a community that’s walkable
- 90% of Gen Z and millennial respondents said they’d even pay more for a home that’s in a walkable community
- a third of them said they’d “pay a lot more”
This may be a surprise to some, as there was a common narrative during the pandemic that there was a preference for automobile-dependent neighborhoods. “Walkability became more of a focus during the COVID-19 pandemic, but demand has only grown since,” the survey says.