Living near this can increase the value of your home

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Living near this can increase the value of your home
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Living down the street from a rowdy concert outlet could have benefits for more than just music lovers! 

Music to a homeowner’s ears

Read more: This one mistake is costing home sellers more than $2,000

According to a Realtor.com study, living within walking distance of an outdoor music venue could have an impact on the value of your home. Homes nearby the top 20 venues were valued at least 9% higher than the rest of the area.

“Walkability to restaurants and shopping has become an increasingly important feature for home buyers over the last few years, especially millennials,” said Jonathan Smoke, chief economist for Realtor.com. “Our analysis shows this desire for close proximity also extends to live music.”

The study looked at home prices within a mile of 68 outdoor concert venues and compared them with home prices in the surrounding zip code.

Capital City Amphitheater in Tallahassee, Florida, was the big winner. Median-price homes within walking distance of the concert stage are 78% more expensive ($177,500) than the surrounding zip code.

Here is a look at the top 20, courtesy of Realtor.com:

Ranking

Venue

Home prices within 1 mile of venue

Home prices in zip code

Venue vs. zip code

1

Capital City Amphitheater (Tallahassee, FL)

$177,500

$100,000

78%

2

OKC Zoo Amphitheater (Oklahoma City, OK)

$49,500

$29,500

68%

3

Greek Theatre (Los Angeles, CA)

$2,100,000

$1,285,000

63%

4

Investor Amphitheatre (Gainesville, GA)

$199,450

$125,000

60%

5

Cincinnati Playhouse In The Park (Cincinnati, OH)

$319,750

$219,750

46%

6

Oregon Zoo Amphitheatre (Portland, OR)

$700,000

$494,950

41%

7

The Levitt Shell (Memphis, TN)

$210,000

$150,500

40%

8

Surly Brewing Festival Field (Minneapolis, MN)

$316,500

$232,250

36%

9

Weesner Family Amphitheater at the Minnesota Zoo (Apple Valley, MN)

$249,900

$193,500

29%

10

Ravinia (Highland Park, IL)

$605,000

$487,500

24%

11

Tallahassee Pavilion (Tallahassee, FL)

$120,000

$100,000

20%

12

Sawyer Point Park (Cincinnati, OH)

$260,500

$219,750

19%

13

Madera Fairgrounds (Madera, CA)

$237,000

$205,000

16%

14

Red Hat Amphitheater (Raleigh, NC)

$300,500

$260,000

16%

15

Clarke County Fairgrounds (Berryville, VA)

$315,000

$273,950

15%

16

Wolf Trap Farm (Vienna, VA)

$882,500

$780,000

13%

17

Ascend Amphitheater (Nashville, TN)

$307,000

$275,000

12%

18

 

Ravina on the Lakes (Peoria, IL)

$177,000

$160,950

10%

19

Concord Pavilion (Concord, CA)

$575,000

$525,000

10%

20

Bayfront Park (Miami, FL)

$392,500

$358,500

9%

Read more: Has your zip code recovered from the housing crisis?

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Michael Timmermann paid off his mortgage in two years. Now, he shares his money-saving tips on his blog, MichaelSaves.com.
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