Outdoor music venues can boost nearby home values, study says

  • Homes in a one-mile radius of 20 outdoor venues nationwide posted an average 9 percent premium compared to their surrounding ZIP codes.
  • Homes near the Greek Theatre in L.A. have a 63 percent premium compared to the rest of the surrounding ZIP.
  • Ravinia in Highland Park, Illinois helps homes reach a 24 percent premium.
  • Miami homes near Bayfront Park are 9 percent more expensive than the overall ZIP.

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Buying a home next to a music venue – especially outdoor music venues – comes with different circumstances, both financially and to your lifestyle. Despite the noise concern, venue proximity often improves walkability, creating a premium for nearby home prices.