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An Analysis of U.S. Multi-Family Housing, Eco-Certifications, & Walkability

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  • Jeremy Gabe
  • Karen McGrath
  • Spenser Robinson
  • Andrew Sanderford

Abstract

This paper examines the persistence of differentiated pricing in the multi-family housing related to eco-certification. In examining a sample of market rents for non-specialty, multi-family properties both across the U.S., as well as those areas that enjoy the highest concentrations of LEED certified apartments, we find rental premiums of 10.2% and 14.7%, respectively for those properties with LEED certification. The addition of the continuous Walk Score, to control for variations in urban form, results in premiums of 7.4% and 9.6%, respectively. These findings are directionally consistent with those found in earlier studies, and demonstrate a persistence in rental premiums for certified properties over time, and with increased LEED adoption.

Suggested Citation

  • Jeremy Gabe & Karen McGrath & Spenser Robinson & Andrew Sanderford, 2023. "An Analysis of U.S. Multi-Family Housing, Eco-Certifications, & Walkability," Journal of Sustainable Real Estate, Taylor & Francis Journals, vol. 15(1), pages 2162515-216, December.
    • Handle: RePEc:taf:rsrexx:v:15:y:2023:i:1:p:2162515
    DOI: 10.1080/19498276.2022.2162515
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