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Green Homes Worth 9% More
Economists from UC Berkeley and UCLA completed an analysis of all 1.6 million single-family homes sold in California from 2007-2012 (Q1), studying the effect of green building labels on property sale values. They found that the approximately 4,000 green labeled homes with Energy Star, LEED for Homes, and GreenPoint Rated labels sold for 9% more (±4%) than comparable, non-labeled homes. The research indicates that the premium exists in hotter climates (where cooling costs are higher) and where environmental ideology (as measured by the rate of registration of hybrid vehicles) influences consumers' buying choices.
In the News
The Washington Post - Energy-Efficient Homes Often Command Higher Prices
LA Times - Green Labels Add Value to California Homes
Market Watch - Green Home Labels Add Significant Value
Sustainable Business News - Green-Certified Homes Get 9% Higher Sales Price in California
Realtor Magazine - Green Homes Sell or Higher Values
San Francisco is habitat for 800,000 people – meeting needs for space to work, play, and learn; for food, water, and air; for community with local flora and fauna. SF Environment provides support for urban agriculture and forestry and green buildings, helping residents and businesses harness environmental opportunities.