The Impact of Location and Neighborhood Condition on Home Value

Home location significantly impacts value, with homes in large metro areas worth about 60% more than those in non-metro areas. Pacific states have home values 35% higher than New England, while Southern and Midwestern regions have values 19-60% lower. Neighborhood quality adds roughly 2% value per rating point, while nearby abandoned buildings and visible trash reduce values by 17% and 8%, respectively.