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New report links marijuana legalization to Colorado s high home prices

New report links marijuana legalization to Colorado s high home prices A new study by Clever Real Estate found a link between marijuana legalization and the housing market. By: Micah Smith and last updated 2021-07-20 17:08:34-04 DENVER — As home prices continue to increase throughout Colorado, a new study by Clever Real Estate found a link between marijuana legalization and the housing market. The report looked at home values across the United States and found home values increased by $17,000 in states where recreational marijuana is legal compared to states where it is illegal or only allowed for medicinal purposes. “We were very interested in understanding more about why recreational marijuana has such an impact on home values. It seems to us there are quite a few factors that are intertangled here,” Clever Real Estate Researcher and Writer Michelle Delgado said.

Legal Marijuana is Affecting Colorado s Housing Market

A new study has found that not only is the legalization of recreational marijuana affecting Colorado s housing market, but also why. The study, conducted by Clever Real Estate, determined that ever since recreational marijuana was legalized in Colorado back in 2012, the housing market has skyrocketed and has issued a report on why they believe it has. Apparently, all of the states that have legalized recreational marijuana have shown an average of a $17,000 increase in home values nationwide. Get our free mobile app We were very interested in understanding more about why recreational marijuana has such an impact on home values. It seems to us there are quite a few factors that are intertangled here. First, new industries attract more jobs and employees looking for homes. Then, of course, tax revenue. These laws that are legalizing the marijuana industry bring in billions of dollars across the country in tax revenue. In Colorado, that goes entirely into education, and so people w

New report links marijuana legalization to Colorado s high home prices

New report links marijuana legalization to Colorado s high home prices
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New report links marijuana legalization to Colorado s high home prices

New report links marijuana legalization to Colorado s high home prices
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Study details correlation between legalizing marijuana and increasing home values

Created: July 15, 2021 09:01 PM ALBUQUERQUE, N.M.- A new study shows New Mexico home values may go up following the legalization of recreational marijuana.    Something interesting that we noted was that the type of legalization actually had a huge impact, said Michelle Delgado of Clever Real Estate. So states that legalized recreational marijuana saw much bigger jumps in home values than states that only legalized medicinal marijuana or states that didn t legalize it at all.    From 2017 to 2021, Colorado s home values went up $89,377. Arizona s increased $80,558. In Texas, where recreational marijuana is not legal, home values rose $40,457 in the same time span.

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