For a
metropolis the size of New York City, space can certainly be a point of contention.
However, how can one compare a space that hosts a high-rise apartment complex
that rakes in tax dollars for the city with a small park that offers zero commerce?
Or, what about a community garden? When an engaged citizen approaches their
municipality and speaks of numerous benefits for the community that accompany
the instillation of community gardens (fresh produce in the neighborhood,
recreational offerings, community building, etc.), there is now data which may
support their cause in terms of the effect of community gardens on surrounding
property values.
This study,
conducted by Ioan Voicu and Vicki Been
in 2008, seems to provide evidence that the presence of community gardens
significantly impacts property values in the immediate vicinity over time for
the better. The authors point out that there isn't really an unbiased manner of
assessing the utility of a space dedicated for a community garden or if there’s
an adequate amount of time before the space can be appropriated for another
purpose. Their study focused on gardens located in New York City and the
property values of lots within and outside of 1,000ft from a specific garden.
This ring permits the researchers to compare the difference in prices for
properties in and outside the space before and after the garden was opened.
Of course,
it’s not quite that simple. Gardens are likely to be installed in places that
have cheap property values to begin with, so there’s no guarantee that those
properties weren't already increasing with value regardless of the presence of
a new garden. But, one can use statistical models which eliminate much of this
bias.
The results from
the study clearly indicate that property values within the 1,000ft ring
increased in value over five years at a wider margin than those properties in
the surrounding neighborhood. The study also determined that this effect was
more profound in disadvantaged neighborhoods and that the quality (determined
by various criteria including accessibility to the general public, fencing
attractiveness and permanence, cleanliness, landscaping quality, presence of
decorations, existence of social spaces and overall condition of the garden) of
the garden affected the margin of difference in property values.
It’s
important to note that this is a correlation and not a causality because who’s to
say that it is the garden itself and not the type of neighborhood that includes
engaged citizens that might install a garden that is accounting for these
differences. Nonetheless, this study is great news for the community garden
movement. In a city landscape where economics are often divisive for
decision-making, it is hard to argue with the clear benefits derived by the
areas surrounding these hubs of vegetable productivity.
Voicu, I., &
Been, V. (2008). The Effect of Community Gardens on Neighboring Property
Values. Real Estate Economics, 36(2), 241-283. doi:10.1111/j.1540-6229.2008.00213.x
This article took a less used route that made it worth the read. As an average citizen, I am more often exposed to a polarized depiction: either environmentalists lauding the physical and social benefits or cornucopians presenting discouraging cost estimates. This article finds a middle ground that is easily relatable to all who might come in contact with a community garden project.
ReplyDeleteAgreed: correlation not causation. I would love to see an analysis of livelihood/ health of lower-income communities with gardens in contrast to property value.
ReplyDeleteWhat about the effects of failed community gardens or similar community initiatives? Do these have a similar causality in the opposite direction? This could possibly used to quantify the value of a garden's success/failure.
ReplyDelete