Historic Districts and Property Values

In September 2003, the city's Independent Budget Office (a city agency charged with a watchdog role over the budget and city agency performance) issued an interesting report entitled The Impact of Historic Districts on Residential Property Values. The findings confirmed what every preservationist already knows, that landmarks are good for the city's economy.

The findings include:

• All else equal, prices of houses in historic districts are higher than those of similar houses outside historic districts.

• Although prices for historic properties have at times increased less rapidly than for similar properties outside historic districts, overall price appreciation from 1975 through 2002 was greater for houses inside historical districts.

To view the report, click here .