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Finding a home with easy access to public transit is a wonderful thing. In the United States, though, it’s rare. Less than 1 percent of homes for sale are located in what real estate company Redfin calls a “rider’s paradise.”
In addition to walkability, Redfin’s Walk Score website rates homes, cities and neighborhoods with Transit Scores that indicate the accessibility of public transit including buses, rail and light rail, subways and ferries.
Redfin was also interested in the way that public transport affects real estate values. So it also analyzed roughly a million real estate transactions in 14 U.S. cities that occurred between January 2014 and April 2016 and concluded that each additional point of a Transit Score increased the price of a home by an average of $2,040 or .6 percent.
Transit Score interprets the point assignments this way:
- 90-100: Rider’s Paradise. World-class public transportation
- 78-89: Excellent Transit. Transit is convenient for most trips
- 50-69: Good Transit: Many nearby public transportation options
- 25-49: Some Transit: A few nearby public transportation options.
- 0-24: Minimal Transit: It is possible to get on a bus.
Here’s the top 30 U.S. cities for public transit: