Los Angeles<\/li>\n<\/ul>\n\n\n\nThe rankings are based on the share of office, retail, and rental multi-family occupied square footage in walkable urban places relative to the metro region as a whole.<\/p>\n\n\n\n
\u201c(The report) finds higher demand driving premiums for commercial and multifamily rents and for-sale home prices in walkable urban places, compared to car-dependent alternatives,\u201d its authors conclude.<\/p>\n\n\n\n
According to Smart Growth America, the 2023 report required a different approach in methodology and analytics than in past years. That\u2019s attributed to the pandemic.<\/p>\n\n\n\n
\u201cSince the 2019 report, much of urban life has changed: the popularity of remote work skyrocketed; ever-increasing housing demand continued to push up the price of homes; public parks became invaluable social gathering spaces; and streets that once served only cars were shut down to make way for people,\u201d SGA stated. \u201cTaking these changes into account, FTA takes stock of the nation\u2019s 35 largest metropolitan areas to identify how walkability in these places has transformed.\u201d<\/p>\n\n\n\n
Among the interesting data points from the report:<\/p>\n\n\n\n
– Small spaces, significant population<\/strong>: Researchers found that 19.1 percent of the total U.S. real GDP and 6.8 percent of the U.S. population are located in walkable urban places that represent just 1.2 percent of total landmass of the top 35 U.S. metros.<\/p>\n\n\n\n– Societal benefits<\/strong>: Walkable urban areas have the potential to improve community health by promoting physical activity, can reduce emissions by decreasing car use, and can advance equity via access to economic opportunity.<\/p>\n\n\n\n–A mix of real estate product<\/strong>: Walkable urban places contain the highest concentration of office space (42.1 percent), just over one-third of multifamily rental spaces (30.4 percent), just under a quarter of retail space, and the smallest amount of for-sale housing (11.6 percent).<\/p>\n\n\n\n–Lack of walkable urbanism creates community challenges<\/strong>: The report\u2019s authors find that a walk of walkable places is directly connected to the U.S. affordable housing and cost of living crisis.<\/p>\n\n\n\n\u201cHousing in the very locations where it is most needed\u2014such as transit-served and infill locations\u2014 remains challenging to deliver on account of restrictive zoning, lending policy, and pandemic-era supply chain and labor issues,\u201d states the report.<\/p>\n\n\n\n
Check out the downloadable Foot Traffic Ahead report<\/a> for more insights, and read additional coverage of the report and its impact on multifamily real estate from Multihousing News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"The nation\u2019s top 35 metros are ranked on walkable urbanism using a newly released index that considers commercial rent premiums, multifamily rents, and for-sale home prices. For the first time, Yardi Matrix was a significant source of data for the report, which was co-authored by Michael Rodriguez, AICP, and Christopher B. Leinberger; and ultimately concludes […]<\/p>\n","protected":false},"author":413,"featured_media":35126,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2791],"tags":[],"class_list":["post-35124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matrix"],"acf":[],"yoast_head":"\n
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