Rail Systems Boost Some Property Values, Study for OCTA Finds
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Commuter rail systems, such as Orange County’s proposed CenterLine project, can boost the property value of commercial buildings, apartments and condominiums, but less so for single-family houses, a new study shows.
The Cal State Fullerton report, funded by the Orange County Transportation Authority, found that commercial property values around the United States increased by more than 30% in areas that have convenient access to light-rail systems.
Residential property value increased from 2% to 18%, with the majority of the increase found in condominiums and apartments within one mile of rail stations. The value of single-family homes was not affected as much, the study found.
The Orange County agency will use the report to support the proposed 11-mile rail system from UC Irvine through Costa Mesa to Santa Ana.
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