Americans favor walkable, mixed-use neighborhoods, with 56 percent preferring smart growth neighborhoods over neighborhoods that require more driving between home, work and recreation, according to a recent survey by the National Association of Realtors (NAR).
Walkable communities are defined as those where shops, restaurants, and local businesses are within walking distance from homes. According to the survey, when considering a home purchase, 77 percent of respondents said they would look for neighborhoods with abundant sidewalks and other pedestrian-friendly features, and 50 percent would like to see improvements to existing public transportation rather than initiatives to build new roads and developments.
The survey also revealed that while space is important to homebuyers, many are willing to sacrifice square footage for less driving. Eighty percent of those surveyed would prefer to live in a single-family, detached home as long as it didn’t require a longer commute, but nearly three out of five of those surveyed – 59 percent – would choose a smaller home if it meant a commute time of 20 minutes or less.
The survey also found that community characteristics are very important to most people. When considering a home purchase, 88 percent of respondents placed more value on the quality of the neighborhood than the size of the home, and 77 percent of those surveyed want communities with high-quality schools.
"NAR’s survey reveals what many real estate developers are seeing across the country: smart growth strategies are the best way to meet market demand for walkable neighborhoods with shorter commutes, diverse housing options and transportation choices," said Chris Leinberger, president of the group LOCUS, which promotes smart growth real estate investments. "Demographic shifts in the United States along with the changing consumer preferences highlighted in NAR’s survey illustrate that consumers want neighborhoods with more walkable housing and transportation choices."