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Denver’s Marijuana Retail Stores Raised the Price of Nearby Homes by Over $33K, Study Shows

Denver’s Marijuana Retail Stores Raised the Price of Nearby Homes by Over $33K, Study Shows

Recreational marijuana stores in Denver, Colo., raised local home values by an average of US$27,000 ($33,600), in the immediate area after legalization, a study found.

The study’s authors drew circles a tenth of a mile (160 metres) wide around each of 103 medical marijuana stores in Denver which started to sell recreational pot after legalization. They then compared prices of houses that fell inside the circles to those outside.

“It’s really localized,” says University of Wisconsin business professor Moussa Diop, one of the study’s authors. “You are talking right around the area where the store is located.”

– Read the entire article at Global News.


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