Urban Trees Increase Home Values
A study of the relationship between urban trees and the sales price of nearby single-family homes found that — in Tampa, a city facing major development pressure — trees were associated with an increase in single family home values. The research upended developers’ assertion that trees reduced the value of homes being sold for redevelopment. In fact, a one percent increase in tree canopy cover was associated with an increase in sales price of $9,271 to $9,836, after controlling for independent variables and accounting for co-correlation.
Urban trees, house price, and redevelopment pressure in Tampa, Florida, Urban Forestry and Urban Greening, 2019