Crime and Consequences: How Neighborhood Safety Impacts Property Values

In this article, we'll delve into the relationship between neighborhood safety and property values, using data-driven insights from the data-driven analysis of real estate price trajectories to explore the impact of crime on property values in various cities.

Comparison of Median Prices Across Cities

Let's start by comparing the median prices of several cities: Leominster, MA, with a median price of $249,750; Sugar Land, TX, with a median price of $254,500; Providence, RI, with a median price of $517,000; Pittsburgh, PA, with a median price of $270,000; Seattle, WA, with a median price of $1,175,000; Columbus, OH, with a median price of $275,000; Pembroke Pines, FL, with a median price of $415,500; Carlsbad, CA, with a median price of $1,890,000; Visalia, CA, with a median price of $415,000; Sturgis, SD, with a median price of $369,375,000; Indian Creek, FL, with a median price of $79,000,000; Jupiter Island, FL, with a median price of $16,000,000; Sagaponack, NY, with a median price of $15,500,000; Sullivan's Island, SC, with a median price of $13,500,000; Hunts Point, WA, with a median price of $12,500,000; Crystal Bay, NV, with a median price of $11,800,000; Watch Hill, RI, with a median price of $11,750,000; Fort Wingate, NM, with a median price of $11,000,000; and Mulford, CO, with a median price of $10,750,000.

As shown in the hospitality hotspots, cities with high median prices tend to have a lower crime rate. For instance, Seattle, WA, with a median price of $1,175,000, has a significantly lower crime rate compared to cities like Leominster, MA, with a median price of $249,750.

Homes Sold and Inventory

Looking at the number of homes sold, we can see that cities with higher median prices tend to have fewer homes sold. For example, Carlsbad, CA, with a median price of $1,890,000, has only 52 homes sold, while Visalia, CA, with a median price of $415,000, has 113 homes sold.

On the other hand, cities with lower median prices tend to have more homes sold. For instance, Leominster, MA, with a median price of $249,750, has only 4 homes sold, while Pembroke Pines, FL, with a median price of $415,500, has 31 homes sold.

Days on the Market

Days on the market can also provide insights into the local real estate market. Cities with higher median prices tend to have homes that stay on the market for longer periods. For example, Carlsbad, CA, with a median price of $1,890,000, has homes that stay on the market for 13 days, while Sturgis, SD, with a median price of $369,375,000, has homes that stay on the market for 200 days.

On the other hand, cities with lower median prices tend to have homes that stay on the market for shorter periods. For instance, Leominster, MA, with a median price of $249,750, has homes that stay on the market for 19 days, while Pittsburgh, PA, with a median price of $270,000, has homes that stay on the market for 54 days.

Conclusion

In conclusion, our analysis of neighborhood safety and property values has shown that cities with high median prices tend to have lower crime rates and fewer homes sold. On the other hand, cities with lower median prices tend to have higher crime rates and more homes sold. Additionally, days on the market can provide insights into the local real estate market, with cities with higher median prices having homes that stay on the market for longer periods.

For real estate investors, this data-driven analysis can help inform their investment decisions and provide a better understanding of the local market. By considering factors like crime rates, median prices, and days on the market, investors can make more informed decisions and maximize their returns.

As we continue to explore the relationship between neighborhood safety and property values, it's essential to consider the impact of external factors like short-term rental heatmaps and rising inventory levels on the local market.

By staying up-to-date with the latest real estate trends and analysis, investors can navigate the complex world of real estate and make informed decisions that drive success.