The Landmarks Preservation Commission’s Web site recently posted a study by the Independent Budget Office that analyzed residential property values in the city’s various historic districts. The report is not new–it’s dated 2003–but its conclusions seem to back up preservationists’ claims that historic districts increase property values.
The I.B.O. looked at one-, two- and three-family houses in the period between 1975 and 2002, and concluded that, “All else equal, prices of houses in historic districts are higher than those of similar houses outside historic districts.” And it’s not a chicken-and-the-egg proposition: ” … overall price appreciation from 1975 through 2002 was greater for houses inside historical districts.”
More tidbits after the jump.