Pay more to live near America’s favorite past time

By
Real Estate Appraiser with PahRoo Appraisal & Consultancy

As we've commenced another opening day of America’s favorite past time, Trulia, real estate research firm, decided to find out the average home prices in the vicinity of our country’s most beloved major league stadiums and which ones were trending.

Excluding Toronto, because let’s face it, it’s in Canada… they surveyed the area from within 1 to 2 miles surrounding the stadium by cost per square foot.

Top 5 Most Expensive Baseball Stadium Neighborhoods

#

Team

Stadium

Median price per SQFT

Stadium area price relative to metro price

1

San Francisco Giants

AT&T Park

$653

1.3

2

Boston Red Sox

Fenway Park

$584

2.6

3

San Diego Padres

PETCO Park

$435

1.9

4

Washington Nationals

Nationals Park

$392

2.3

5

Los Angeles Dodgers

Dodger Stadium

$387

1.6

 

Top 5 Least Expensive Baseball Stadium Neighborhoods

#

Team

Stadium

Median price per SQFT

Stadium area price relative to metro price

1

Kansas City Royals

Kauffman Stadium

$28

0.3

2

Atlanta Braves

Turner Field

$64

0.9

3

Milwaukee Brewers

Miller Park

$72

0.7

4

Pittsburgh Pirates

PNC Park

$85

0.9

5

Texas Rangers

Rangers Ballpark

$86

1.1

 

Judging on straight price, San Francisco’s AT&T Park ranked at the top of the chart.  Of course we provided the list of the least expensive stadium neighborhoods to live in as well.  The interesting part is looking at the stadium price vs. the metro are prices you may want to look at the east coast.  If the value of the stadium is above 1 that means that stadium area is more expensive than the average metro areas in the city.  Take for instance Fenway Park.  The stadium area is 2.6, which means it is a more expensive ratio to live near Fenway than in downtown Boston. 

Our own Wrigley Field comes in at 2.2.  That’s no surprise that the Wrigleyville area is one of the most expensive neighborhoods to buy in all of Chicago.  

Our Southside, bears the other staduim of choice, Cellular One Field. The newer home of the Chicago White Sox definitely brought a surge of redevolpment as well and while the home prices are not as high, Bridgeport remains a classic neighborhood with an authentic Chicago feeling. 

Trulia goes even as far as to entertain the thought that home prices actually rise if you have a winning team.  In other words, the higher the chances for your city’s team to win a world series is, the more popular the neighborhood. 

NOPE! Unfortunately the building of new stadiums may indeed raise home prices and rents in the area to draw a great neighborhood atmosphere and to bring more businesses to the area; however the fate of the housing market does not rely solely on whether your team is a winner. 

Chicagoans know that all too well.   If the home prices and rents in Wrigleyville relied on whether the Chicago Cubs would actually have successful season, well it would be whole different neighborhood.  Chuckle… Go White Sox! 

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Tags:
bridgeport
baseball
wrigley field
price per square foot
wrigleyville
real estate
chicago cubs
chicago white sox
chicago home prices

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Rainmaker
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Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Stadium area price relative to the metro area tells it all.  Let's face it, Bean Town is in a frenzy this time of year.  My husband's home town is Chicago and there are some great areas close to Wrigley Stadium. 

There is just something about Wrigley field (and Cub fans) that warms your heart! 

Apr 11, 2013 04:09 AM #1
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Rainer
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Michael Hobbs

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