How Much is a Bike Trail Worth?

With budget crises a reality for local governments all over the country, recreation amenities like bike trails are often the first places to look for cuts. But according to research coming out of the University of Cincinnati, proximity to trails in urban areas increases property values, which in turn boosts the amount of property taxes filling government coffers.

The research, by planning professor Rainer vom Hofe and economics professor Olivier Parent, looked at houses along a 12-mile stretch of the Little Miami Scenic Trail, a former rail line that cuts across the northeastern portion of Cincinnati. The pair found that home buyers were willing to pay a premium of $9,000 to be within 1,000 feet of access to the trail.