Ok, so the Eagles didn't exactly have their best season. But here's something we can cheer about (maybe): Living within a 2-mile radius of Lincoln Financial Field significantly boosts home and rent values by 44.3 percent and 8.9 percent, respectively, according to a new report by Trulia, a real estate listing website. What's interesting, however, is that new NFL stadiums built in the last decade have, for the most part, failed to have any major impact on the prices and rents of nearby homes. Take the AT&T stadium in Arlington, Texas, for example. Since opening in 2009, home values nearby have lost value and are 4.9 percent cheaper compared to those in the greater Arlington area.
Properties around older stadiums like the Linc, which opened in 2003, tend to be more expensive than homes in the rest of the city on average. In fact, Philly homes near the NFL stadium had the highest increase of home values versus regional values compared to the other 30 cities included in the report.
For the report, Trulia used a hedonic pricing model to determine whether homes near NFL stadiums are wroth more or less than homes in the general metro area. They also controlled for the number of bedrooms, bathrooms, square feet, lot size, age, and zip code.
· Field Position: Does an NFL Stadium Boost Your Home Value? [Trulia]