• 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.

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.

A new study from realtor.com and Vivid Seats evaluated home prices near open-air concert settings to find homes next door to venues priced higher than the overall ZIP code.

The Move live event ticket marketplace examined home prices within one mile of 68 outdoor music venues nationwide. The data revealed homes near 20 venues throughout the U.S. post an average premium of 9 percent compared to their surrounding ZIP codes.

Outdoor music venues


“Walkability to restaurants and shopping has become an increasingly important feature for homebuyers over the last few years, especially millennials,” Jonathan Smoke, chief economist for Realtor.com, said in a statement. “Our analysis shows this desire for close proximity also extends to live music.”

Because accessibility is a big factor in gauging demand and home pricing, it’s no surprise property near a live entertainment locale draws a pricier fare. Not only do home values boost, but venues attract outsiders to towns and local businesses, and nearby homeowners have the option of walking to live entertainment instead of driving and paying for parking.

Where do music venues affect prices the most?

Capital City Amphitheater in Tallahassee, Florida took first with a 78 percent premium for homes near the venue versus homes in the surrounding ZIP. Home prices in a one-mile radius of the venue were $177,500, compared with $100,000 in the surrounding ZIP code.

In Los Angeles, the median home value within one mile of the Greek Theatre is $2.1 million. Within the overall ZIP, the median home value is much lower at $1.285 million, or 63 percent less. L.A. came in third for the highest differentiation between home prices in walking distance to concert spots and its studied ZIP (90027) overall.

outdoor music venues

Ravinia / Flickr user Michael Lehet

The Ravinia Festival outdoor lawn and theatre in Highland Park, a north shore suburb of Chicago, sits next to median home values 24 percent than the surrounding ZIP. The median home value within a one-mile radius of Ravinia is $605,000. In comparison, the median home price in Highland Park overall is a lesser $487,500.

Homes near Bayfront Park in Miami are valued at $392,500, while the overall ZIP home value is $358,500 – a 9 percent difference. While not the highest on the list, Bayfront Park’s nearby home premium was 20th on the list.

Email Jennifer Riner

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Network with CoStar, Redfin, Realogy, SERHANT., Divvy, and thousands more in-person at ICLV this October. Prices go up Sunday.Register Now×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription